Employment Improves

Employment Improves as only three states are above 6% unemployment

Employment improves as only New Mexico, Alaska, an Alabama have unemployment rates over 6%.  At the same time there now are 19 states that have unemployment rates at 4% or less. Six states have unemployment rates ar 3% or less.  Those states are Vermont (3.0%), Colorado (2.9%), North Dakota (2.9%), Hawaii (2.8%), South Dakota (2.8%), and New Hampshire (2.7%)

High Unemployment States - February 2017
States with the highest unemployment levels
Employment Improves
Employment Improves and unemployment rate is 4% or less in 19 states

At these levels salaries will start to rise and we forecast that the overall participation rate will begin to increase.  This in turn will cause salaries to edge up.

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Number of employed rises

Number of employed rises by over 1/2 of million individuals

The initially reported number of employed individuals rises by almost 300,000 in February. At the same time, there are now over 650,000 newly employed individuals since the election.

Number of new job increases by almost 650,000 in the three months since the election

When the data is analyzed over a long term the trend recent trend does not stand out as much.

However all of the indicators are that this is the start of an upward progression in the number of individuals employed.  This is in line with the other data that we have analyzed.

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CIO Tenure Up

CIO Tenure up to 4 years 5 months

CIO tenure moves up as more CIOs are staying in their jobs.  However that is about to change as the “baby-boomers” will begin to retire over the next several quarters. This data is according to Janco’s 2017 IT Salary Survey.

Read on…

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Labor Force Participation rate not very promising

Labor Force Participation shows that over 95 million are not in the labor force

Labor Force Participation - 10 year history
Labor Force Participation – 10 year history

The labor force participation rate is the percentage of the civilian non-institutional population 16 years and older that is working or actively looking for work. Since 2008 the participation rate has plummeted. Some of the drivers of that fall are

  • Baby Boomers – The movement of the baby-boom population into age groups that generally exhibit low participation.
  • Teenagers – Teenagers experienced the largest drop in participation, which coincided with a rise in their school enrollment rate.
  • Young Adults – Young adults 20 to 24 years also showed a decline in labor force participation, but the decrease was not as steep as that for teenagers.
  • Working Age Women – The labor force participation rate of women 25 to 54 years also fell, with the decrease more pronounced for women who did not attend college.
  • Working Age Men – The labor force participation rate of men 25 to 54 years continued its long-term decline. As in the past, the decrease in participation among men with less education was greater than that of men with more education.

On the plus side, labor force participation rates of men and women 55 years and older rose from 2000 to 2009 and has subsequently leveled off.

IT Job Market and US National Employment Data – On a monthly basis – typically on the first Friday of the month – Janco publishes an analysis of the IT Job Market utilizing the BLS labor data and it proprietary data. See the latest press clipping go to Janco’s Press Clippings and eJobDescription.com.

The salary survey is updated twice a year; once in January and then again in July. Janco and eJobDescription.com not only look at base salaries, they also report on total compensation.

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