Hiring of IT Pros slows due to shortage of qualified candidates

Only 4,800 IT jobs added in October – Janco reduces its forecast for IT Pro jobs that will be added by end of 4th Quarter

IT hiring positive for the year with 117K IT jobs created since January

Park City – UTe-janco.com –   Janco reports that 2021 YTD job growth exceeds 2020 by 189,000 YTD. The three-month moving average trend for the creation of IT Pros jobs abruptly tuned down in October and was 9K jobs fewer that the monthly average for the prior two quarters. According to the latest BLS data analyzed by Janco there are now 3.72 million jobs for IT Professionals in the US. On the bright side, 15 months in a row there has been an increase in the number of jobs added to the IT job market. The hiring of IT Pros is robust. This is true across all industries.


Updated


Moving average of IT job market growth
Layoffs abound and there no longer is robust hiring trend for IT Professionals - the economy is slowing. However, there are a number of jobs unfilled by IT Pros. The primary culprit is the lack of qualified individuals to fill the open positions. In our opinion, the IT Job Market is currently at no growth!
Unfilled IT Jobs

IT Job Market Openings

The number of unfilled jobs trend line is down as the economy softens and CIOs and CFOs look to control costs and eliminate requisitions for positions that cannot be filled. There was a major pullback of the number of excess jobs for IT Pros - layoffs have impact on number of unfilled jobs available for IT Professionals.

The CEO of Janco Associates, Inc., Mr. M. Victor Janulaitis said, “In the past 30 days, CIOs have had to slow down their hiring plans due to the lack of qualified candidates. From data that we have reviewed, shutdowns resulted in fewer computer science candidates graduating from universities and trade schools. Those in the pipeline for those degrees was reduced as well. One of the drivers of that trend, the closing of borders limited the number of foreign nationals who could qualify for that training and education.“

Monthly Job Market Growth

Monthly IT Job Market Growth
Source BLS analysis by Janco Associates, Inc.

He said, “In the past 30 days, CIOs have had to slow down their hiring plans due to the lack of qualified candidates. From data that we have reviewed, shutdowns resulted in fewer computer science candidates graduating from universities and trade schools. Those in the pipeline for those degrees was reduced as well. One of the drivers of that trend, the closing of borders limited the number of foreign nationals who could qualify for that training and education. “

IT Job Market Growth Forecast
Latest YTD IT job market size - IT Job Market growth uncertain for CY 2024

The CEO added, “To help CIOs and HR managers tools to help in recruiting of IT professionals, we have released our latest IT Hiring Kit. With hiring on the rise, we have just updated our IT Hiring Kit. It contains over 312 industry-standard job descriptions, the latest IT salary data, and our exclusive Interview Recruiting and Hiring guide. More information on the IT Hiring kit can be found on our website at https://e-janco.com/ithirepack.htm ”. He added, “…we have created a System Analyst job class to our IT Professional Job Family Classification & Pay Grade system. Along with that and our most recent salary survey, we have created several templates for pay grades for the job family. These detailed job descriptions and pay grade templates will be added to the inventory of IT Job descriptions available in the IT Hiring Kit as they are developed.

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.

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