U.S. IT job growth stalls amid ‘weird’ market conditions
VIRGINIA, UNITED STATES — The information technology (IT) job market in the United States (U.S.) remained essentially flat in October, ticking down just 0.07% from September to 5.3 million jobs, according to an analysis by TechServe Alliance.
On a year-over-year basis, IT employment has contracted by 1.87% since October 2022, losing 101,200 positions.
“After steeper declines in IT employment during the second half of last year through the first half of this year, employment levels have been essentially ‘running in place’ for the last six months,” said Mark Roberts, CEO of TechServe Alliance.
While hiring has slowed as many employers wait cautiously for signs of a potential recession, Roberts added that the talent supply is still tight in high-demand skill sets.
Roberts also noted an IT unemployment rate of just 1.94% in the third quarter, well below full employment, indicating caution among employers.
“It remains a weird market,” Roberts stated.
The data indicates caution among employers fearful of a potential recession. However, Roberts expects hiring to pick up once sustained evidence emerges that the economy is not headed into a downturn.
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