IT Job Growth Slows

 

According to the United States Bureau of Labor Statistics (BLS), job growth in the US IT industry decreased during October. The latest figures from Janco Associates showed 4,800 positions added, a drop from 8,900 positions in September.

Slowdowns in the restaurant, entertainment, service, and other hospitality industries due to COVID-19 continue to decrease IT growth. Finding qualified applicants is currently the biggest challenge in the industry.

M. Victor Janulaitis, Janco’s CEO, said in a statement, “From data that we have reviewed, shutdowns resulted in fewer computer science candidates graduating from universities and trade schools. Those in the pipeline for those degrees were reduced as well. One of the drivers of that trend was that the closing of borders limited the number of foreign nationals who could qualify for that training and education. Many of the new positions that CIOs are trying to fill are in new technologies. There is a shortfall of individuals who have the training and skills necessary. There are open positions that cannot be filled. At the same time, attrition rates are on the rise in many IT organizations.”

Earlier in 2021, the US IT industry was more robust, with a surge of 25,400 new jobs in August, 18,500 in June, and 9,900 in July. IT job growth accelerated for 15 straight months, averaging 13,000 new jobs each month of 2021. IT salaries were also growing during 2021.

Pre-pandemic, the IT job situation throughout the US reflected similarly to how it looks now: more positions than candidates. If businesses found qualified IT professionals to fill positions, they would have reached an increased number of employees. With HR focusing on staff retention rather than finding developers, cybersecurity, and compliance professionals, the talent shortage is feeling the pressure.

As of October 31st, 189,000 new positions were available in 2021. In total, Janco estimates there are roughly 3.72 million IT professional careers open in the US.

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Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.