IT Hiring Trend Goes Negative - First Time in 27 months
IT job market shrank by 4,700 jobs in January with 100K unfilled positions
Layoffs and economic uncertainty make CIOs and CFOs slow IT Hiring
Janco reports that 2022 saw an increase of 264.5K new jobs added to the IT job Market. Those new jobs were in addition to the 213,000 jobs created in 2021. This increased demand raised overall salaries for all IT positions by 5.6%, with SMBs seeing an average increase of 7.74% with their median compensation increasing to $100,434 as reported in Janco 2023 IT Salary Survey (see https://e-janco.com/salary.htm).
In January the growth of the IT job market stopped with a decline of 4,700 jobs. That was the first loss 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 109K unfilled jobs for IT Pros due to a lack of qualified candidates.
Keep reading with a 7-day free trial
Subscribe to CIO and IT Management Newsletter to keep reading this post and get 7 days of free access to the full post archives.