CIO confidence wanes – Hiring slows

CIO worries — IT job market growth continues to slow from 9,800 jobs in January and 5,500 jobs in February to 5,400 in March – 78,900 jobs added in the last 12 months…

CIO confidence wanes — hiring slows

Job DescriptionsThere was a net increase of 5,400 jobs in March which was slower than the 9,800 jobs added in January and 5,500 in February according to the latest BLS data. There was an improvement in computer systems design and related services accounted of 3,900 jobs; data processing and hosting related services lost 300 jobs; Telecommunications gained 1,800 jobs; and other information services lost 200 jobs. The three month moving average is continues to move up slightly.

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The labor market participation rate fell to 63.5% – the participation rate remains at record low levels. In February another 130,000 individuals left the labor market. There are 3,000,000 fewer individuals working than in 2007.

The IT job market growth trend for IT Professionals is-slightly up — however these results may be skewed since the BLS continues to adjusted the employment numbers in these sector. See charts below.

IT job market improves - hiring up
Hiring Trend Moving AverageWorkforce Participaton

At the same time Janco’s CIO Hiring Plan Forecast looks mixed in the short term with CIOs becoming more cautious in their hiring as the recovery stalls and taxes increase..

IT Hiring Trend

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.