Covid-19 causes 123,700 IT Pros their Jobs - IT Salary Survey Released
IT Job Market loses slows with 13,500 jobs lost in June – Salary increases are a thing of the past
Park City – UT– e-janco.com – Over 123,700 IT pros lost their jobs due to the COVID shut down since April. For the year, that reduced the IT job market by 104,400 jobs. Janco has adjusted its forecast, for the second time downward, for the overall net new IT job to be created in 2020 to just over 30,000 from 35,000. Many of the CIOs and CFOs interviewed by Janco in the past few weeks feel that with the existing pace of reopening, secondary shutdowns, civil unrest, and the election, normal IT hiring will not resume until late in the fourth quarter of this year. However, IT Pros job losses could continue if companies need to shut down a second time and/or not reopen.
The CEO of Janco Associates, Inc., Mr. M. Victor Janulaitis said, “Some SMBs are not going to be able to survive the Covid-19 shutdowns. As a result, IT Professionals working for those companies will need to find new employment opportunities. The H1-B directive will not be of much help for those professionals as the 2020 visas have already been granted. Also, until the public feels they can go back to a normal life and all companies open their doors, hiring for new positions in IT will be limited at best. In addition, the civil unrest is slowing confidence by the general public, which in turn, hinders corporate confidence. It does not help that many retail organizations are evaluating if they will reopen at all in areas that were impacted by the civil unrest. A case in point is the mayor of Chicago “begging” Walmart to reopen retail outlets that were looted and/or burned down.” The CEO added, “Several major companies are resuming existing operations but are holding back on any expansion until after the election in the fall.”
Janulaitis said, “Work From Home (WFH) is the order of the day. IT professionals already have that capability in over 85% of all organizations that we have reviewed. CIOs are being tasked to have the capability quickly implemented with a robust WFH infrastructure and Omni Commerce solutions that is not only operational but meets mandated compliance requirements.” For more information on Omni Commerce go to https://e-janco.com/omnicommerce.html.
Mid-Year 2020 IT Salary Survey released
The CEO added, “We have just released our Mid-Year 2020 IT Salary Survey. Salaries for IT professionals have remained flat for the first two quarters of 2020. A classic example of supply and demand. Those who have jobs are content and those looking for new positions will accept almost any salary to be employed. The median salary for all IT professionals rose from $91,587 to $91,762 – an increase of 0.19%.” For more information on the Mid-Year 2020 IT Salary Survey go to https://e-janco.com/salary.htm.
NOTE: The graphic below is updated with each new IT Salary Survey. The chart compares the data from the period of the survey to prior period.
Latest Median IT Salaries
For the latest data go to the current IT Salary Survey
Current IT Hiring Plans - IT Job Hiring Stalls
With the move towards Artificial Intelligence, the treat of an economic downturn, inflation, high energy cost, and the continued wars will continue dampen hiring for IT pros over the next few quarters.
IT Job Market Flat for FY 2024
The number of IT jobs not filled now is just over over 156K unemployed IT Professionals. The IT job market shrank by over 57,400 jobs in CY 2023. Overall that is a flattening of the long term growth rate pattern of IT job market.
Data complied and forecast updated by Janco Associates with data as of February 2024
Janco is an international consulting firm that follows issues that concern CIOs and CFOs. The firm publishes a series of IT and business Infrastructure HandiGuides® and Templates including IT Infrastructure Policies and Procedures, Disaster Recovery/Business Continuity Template, Security Template, IT Job Descriptions, and its semi-annual IT Salary Survey.