The employment rate within the IT industry has shown no growth. IT employment in September dropped compared to August’s numbers. From September to October, the trend remained the same. Although numbers have varied within the past few months, the IT employment rate has remained flat for over a year, for a specific reason.
Data has shown that the reason for this no growth period, is because there is a lack of available talent. Within the US, the IT employment rate declined by 0.13% from August into September. Additionally, in October from September, IT employment declined 0.14%. TechServe Alliance CEO Mark Roberts stated, “In addition to adding only 500 net new IT jobs (reflecting a mere 1/100 of 1% increase) and an IT unemployment rate of only 2.3% in Q3, there were almost 500,000 registrations in the most recent H-1B lottery competing for 85,000 visas for skilled foreign workers.” In a year-over-year look, IT jobs dropped by 0.19%, or 10,200 jobs. With the struggles to staff IT positions, it reflects a supply problem.
Due to the number of IT jobs remaining flat within the past few months, it becomes more important yet more difficult to find the right talent, in a small market. The main reason for this no-growth period is because we have been in an ongoing worker shortage. It is predicted that demand for IT talent will continue grow and exceed supply, for the foreseeable future, although the industry hopes to get out of the no-growth environment.
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