IT Job Market Forecast
Janco has just released its IT job market forecast and does not look good. The forecast for 2016 is that 100,800 new IT jobs will be created. That is 12% lower than the number of jobs that were created in 2015 and 2014. In addition, a number of industry analysts are forecasting that a new recession is around the corner. That was magnified with the testimony of the Fed Chairman before Congress. The Chairman said, “… we (Fed) will not raise interest rates in the near term as we are seeing signs of a recession occurring over seas.”
When Janco analyzed the recent employment data provided by the BLS, they found that 5,300 new IT jobs were created in January 2016 versus 15,900 last year at the same time. The CEO of Janco said, “The BLS did reclassify some jobs from the Telecommunication category to the Computer System Design and Related Services, but that was a push and in aggregate the result was that fewer new IT jobs were created. In support of this, our interviews of 47 CIOs in the last few weeks have them being much more pessimistic than they have been as group in some time.