While IT Jobs Tick Down Modestly in November, Demand for Tech Talent Remains Strong
In November, IT employment ticked down 0.12% from October, according to TechServe Alliance, the national trade association of the Technology Staffing and Solutions Industry. On a year-over-year basis, IT employment was down 0.35% from November 2021, down a net of 18,900 jobs. The Engineering sector showed a year-over-year job growth rate of 3.56%, with the addition of 94,400 jobs during the year.
“While layoffs among some high-profile tech companies have been in the news, demand for talent for technology professionals overall remains very strong. When one sector of the economy reduces its workforce, high demand skill sets are redeployed to other industries,” said TechServe Alliance CEO Mark Roberts. “With an IT unemployment rate of just 2.3% as of the end of Q3, most qualified candidates continue to receive multiple job offers with escalating wage growth. It remains a ‘candidates’ market’,” added Roberts.
HR Technology News: Keep Employee Engagement Platform (KEEP) Adds Performance Feature To Bonuses For Accelerated Vesting
The following table presents information about the total number of jobs in certain sectors that provide a significant amount of employment for IT and engineering professionals.
Technical note: TechServe Alliance’s IT Employment Index and Engineering Employment Index are the first specific measurements of IT and engineering employment. These unique measurements of total IT and engineering employment are created monthly by studying the ongoing staffing patterns of a dozen IT and computer related occupations in 22 industries and industry sectors employing significant numbers of IT workers and nearly two dozen engineering occupations in 30 select industries and industry sectors employing significant numbers of engineering workers.
HR Technology News: Vyopta Supports Microsoft Teams Voice Solutions
Both the monthly IT Employment and Engineering Employment Indices are based on U.S. Bureau of Labor Statistics (BLS) data, which is subject to monthly revisions, and is revised accordingly. Both indices are also subject to periodic revisions and annual revisions / benchmarking that includes revisions to several years of employment data, which also may incorporate new occupational definitions. Both indices were revised / benchmarked going back several years starting with January 2022 data and published in February 4, 2022. In addition, both indices are subject to minor revisions to March and April data. The next major revision will be published in February 2023.
HR Technology News: HR Technology Highlights – HR Tech Daily Round-Up For 5th December 2022
[To share your insights with us, please write to sghosh@martechseries.com]