IT Job Market Continues to Soften
In the past 18 month the number of IT Pros hired each month has moved from 105K to 57K in October
2023 was not a good year for the size of the IT Job Market. In May 2022, the number of IT pros hired was 105K. Since then there has been a steady decline in the number of IT Pros hired to 57K in October 2023.
We currently do not see any change in that trend. In our professional opinion, in 2024 the size of the IT job market will remain at about the same levels as the 4th quarter of 2023 with growth in size limited to minimal levels.
Supporting this opinion is the fact that the number of unfilled positions for IT Pros has fallen from 148K to 101K in the past 18 months. There still is demand, however not at the peak of the post-pandemic hiring frenzy.
Salaries for IT Pos have not kept up with inflation
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