Jobs Data Shows that the Bottom Has Fallen Out of the IT Job Market
September’s IT jobs number was adjusted down from a gain of 2,500 jobs to a loss of 3,600 jobs. At the same time the number of jobs they reported as gained in October was only 5,200.
Preliminary data for October looks to re-enforce the the trend.
The latest BLS data paints a grim picture of the IT job market. In the last 12 months only 77,600 jobs have been added. The CEO of Janco Associates, Mr. Victor Janulaitis said, “Based recent interviews of 84 CIOs in the last two weeks, we see that CIOs have become more cautious. A number of factors are driving this in addition to the current state of the recovery. They are the January 1 sequester spending cuts, issues associated with the new Health Care law, and the uncertainty caused by both of these ‘uncontrollable’ events.” Janulaitis added, “Over two thirds of the CIOs interviewed say that the network infrastructure, which many have not been able to update because of budget limitations, they have in place is making it more difficult to implement new technologies without significantly increase costs.” He added, “…they all need larger budgets and staff to deal with this but are reluctant to hire new employees.”