Dramatic shift in the hiring of IT Pros

IT job market shrank by 44,900 jobs in the first two months of 2023

Layoffs and economic uncertainty drove CIOs and CFOs to slow IT Hiring

Janco reports that 2022 saw an increase of 267K new jobs added to the IT job Market.  Those new jobs were in addition to the 213,000 jobs created in 2021.  The tide has shifted with 44,900 IT jobs lost as major layoffs occurred and hiring new IT Pros ground to a halt.

The growth of the IT job market stopped with a decline of 10,000 jobs in January and 13,400 jobs in February.  That was the first loss in the number of IT Pros employed in over 27 months. The three-month moving average of IT job market growth went negative with a trend line that shows a further decay in IT job market growth.  At the same time, there is an excess of 145K unfilled jobs for IT Pros due to a lack of qualified candidates.