IT job market growth slows from 9,800 jobs in January to 7,900 in May – 87,600 jobs added in the last 12 months…
CIO confidence wanes — hiring slows
There was a net increase of 7,900 IT job market in May. There was an improvement in computer systems design and related services of 6,000 jobs (versus 4,700 in April); data processing and hosting related services lost 400 jobs (versus gaining 200 jobs in April); Telecommunications gained 2,900 jobs (versus 1,000 in April); and other information services gained 2,600 jobs (versus 1,300 in April). The three month moving average is flat.
The labor market participation rate remains at a record low of 63.5%. There are 3,000,000 fewer individuals working than in 2007.
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.
The number of new jobs created continues to be lower than the number of jobs needed for the US economy to stay even with adult population growth. The Labor Department has reported the economy added added only 165,000 in April . Unemployment is highest in Nevada and California.