Press Release - Growth and Decline in IT Job Market Size
Janco adds to its IT Job Market size model to include findings from pandemic and recovery process
Park City – UT– www.e-janco.com – Janco Associates – Janco reports that it has found a direct relationship between the number of states that report full employment (unemployment rates of 3.0% or less) and the number of IT jobs created or lost. This new set of findings will now be included in Janco's IT Job Market forecasting model.
The CEO of Janco, M. Victor Janulatis said, "In our analysis of the impact of the pandemic and overall unemployment levels we found that when there is a material shift in the number of full employment states there is a direct relationship between that and both increases and decreases in the number of jobs for IT Professionals. In addition to the most recent events we reviewed, we reviewed the data for the dot com bubble and found the same relationship." He reinforced, "When there is a shift in the number of full employment states with a shift in the number of states that have high unemployment rates, demand for IT professionals as defined by Janco is directly impacted."
The CEO added, "We have adjusted the model which we use to forecast IT Job Market growth to take this into account. This data is used by our clients as they forecast and adapt IT spending patterns in the budgetary and operational management of IT. We currently forecast that 99K jobs will be added in 2022. When the next set of BLS is released we will update this forecast."
As a result of Covid-19, 33,200 IT jobs were lost in 2020. In 2021 213,100 jobs were added to the IT Job Market - A full recovery plus…
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