IT Employment Up In a Soft Job Market

Between the first to second quarter of this year, the unemployment rate of computer hardware engineers went from 4.4% to 0.5%. For software developers, the unemployment rate shrank from 3.6% to 2.5% over the same period.

IT Employment Picture

However, for computer support specialists, the unemployment rate over the two quarters rose from 7.1% to 8.2%.

The entire job market in the US did increased by 96,000 jobs in August, but troubling was the fall in the labor market participation rate which fell another .2% to 63.5% with 368,000 dropping out of the labor force. Victor Janulaitis. The CEO of Janco Associates said, “The year to year comparison of workforce participation shows how deep a hole we are in. Until those percentages turn around there will be little hope for a strong recovery.”

IT Job Market Trend Moving Average Workforce Participation Percentage

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Author: Victor Janulaitis

M. Victor Janulaitis is the CEO of Janco Associates. He has taught at the USC Graduate School of Business, been a guest lecturer at the UCLA's Anderson School of Business, a Graduate School at Harvard University, and several other universities in various programs.