Janco cuts forecast for IT job growth in half
Growth of IT Job Market slows from red hot to positive and steady
Janco forecasts approximately 99K new IT jobs will be added in 2022
Janco reports that in 2021 hiring for IT Pros was at a record pace with 213K new IT jobs created. In early 2022, before the invasion of Ukraine, IT hiring continued at the same red hot pace. That is no longer the case, inflation, sanctions, and shut down of normal international commerce have caused my corporations around the globe to pause.
According to the latest BLS data, analyzed by Janco, there are now 3.83 million jobs for IT Professionals in the US. For 18 months in a row, there has been an increase in the number of jobs added to the IT job market. Now the hiring of IT Pros is no longer red hot but still is robust.
Janco has now reduced its forecast for IT job market growth to 99,000 new jobs to be created in 2022. That will be at less than half the growth of 2021.
An average of 18K new IT Jobs have been created each month of 2021. Hiring at that level will not continue. We estimate that an average of between 8K to 9K new jobs will be added to the job market each month in 2022.
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.