New numbers from the Bureau of Labor Statistics show that the information-technology (IT) job market grew by 8,700 jobs last month, for a total of 59,400 new IT jobs in the past 12 months. That’s better, but not nearly good enough according to one management consulting firm.
The jobs picture for IT pros is trending up with the moving average showing looking favorable," said Janco Associates CEO Victor Janulaitis. "[But] the number of jobs added in the last 12 months was 59,400 and that seems to be rather anemic for the high-tech business environment that we are in.”
The BLS says overall unemployment rate dropped to 7.7 percent last month, the 542,000 people who stopped looking for work had at least as much impact as the 146,000 new jobs that were created. The government said 171,000 jobs were added the previous month.
Janco is particularly concerned that labor market participation rate remains at a record low level.
The year to year comparison of workforce participation shows how deep a hole we are in," said Janulaitis. "Until those percentages turn around the recovery will be weak at best, IT demand will be dampened, and overall IT employment opportunities will remain at very low levels.”
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May 24 2019 @ 15:22:08 UTC