BLS supports Janco IT Job Market Forecast
Long term growth in the IT job market will continue thru 2032
The number of high paying IT jobs in the US will be close to 5 million by 2032
Recent projections from the BLS support the forecasts for IT job market growth by Janco. According to BLS projections, the IT job market is projected to experience much faster than the average employment growth of 15.4 percent through 2031. Driving this will be the strong demand for IT services, including cybersecurity services and cloud computing. For related occupations, there is expected to be robust growth in data--in part related to the Internet of Things (IoT) and the connectivity of consumer products and industrial machinery. Also, demand for data collection and analysis are the main factors behind strong projected employment growth. Three IT job market occupations are among the fastest growing occupations: data scientists, information security analysts, and statisticians. In addition, software developers are expected to see the third-largest increase in jobs of any occupation over the 2021-31 decade.
IT Pay Grade Mandates will push compensation higher
So far New York City and Colorado are the first two IT job markets that have mandated the publishing of pay grades for job postings. The state of California just passed a similar mandate that is awaiting the Governor’s signature. With the median salary for IT professionals is close to $100,000 and there are over 200K unfilled jobs for IT pros due to a lack of qualified individuals, IT salaries have no place to go but up.
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