Hiring of IT Pros Slows IT job Market Loses 3,100 jobs
IT job market grew by only 3,400 jobs YTD versus 97,300 in 2022
BLS adjusts down the number of IT Pros hired in March and April by 9,300
Janco reports that YTD, the IT job market grew by 9,600 jobs in the first five months of 2023. That is in contrast with 97,300 jobs that were created in the same period of 2022. The number of unfilled jobs for IT Pros shrank from 200K plus in December to just under 80K at the end of May.
Janco has revised its forecast for the IT Job market down by over 20K to 60K-70K from 80K-90K for the calendar year 2023.
The growth of the IT job market stopped in January with a decline of 2,600 jobs and the BLS initially reported there was a loss of 11,600 jobs in February and a slight gain of 500 jobs in March. They revised their data to show a gain of 4,900 jobs in February and 7,700 in March. Currently, there is an excess of 145K unfilled jobs for IT Pros due to a lack of qualified candidates.
BLS eliminates 9,300 jobs from those originally reported in March and April. The net effect is that there were only 1,100 jobs added to the IT Job Market in the last three months.
The CEO of Janco, M. Victor Janulaitis said, “Based on our analysis, the IT job market and opportunities for IT professionals is less than optimal. In the first five (5) months of 2023, the big losers were information service providers losing 8,800 jobs, telecommunications losing 3,100, and content providers losing 1,900 jobs. The jobs lost were in data center operations, administrative and HR roles related to recruiting, and DEI (diversity, equity, and inclusion). Some roles, especially in telecommunications and data center operations are being automated and eliminated. Driving this is, CIOs and CFOs who are looking to improve the productivity of IT by automating processes and reporting where possible. They are focusing on eliminating “non-essential” managers and staff. Experienced coders and developers still have opportunities. The highest demand continues to be for security professionals, programmers, and blockchain processing IT Pros. Currently, there are over 145K unfilled jobs.”
IT Job Market Forecast 2023
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