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IT Job Market Booms While Telecom Continues to Shrink

Business Growth

IT pros looking for work couldn’t ask for a better job market, particularly in security.

Some 23,200 new IT jobs were added during the first quarter, with many in security and mobile devices, and a short-term focus on the EU’s General Data Protection Regulation (GDPR).

Janco IT Jobs Graphic April 2018That’s according to Janco Associates‘ latest forecast for new IT jobs in 2018. Hiring is on a definite upswing for IT pros, with salaries and contractor rates rising as many jobs go unfilled, it said. Janco now expects 86,000 new IT jobs this year, up from the 75,000 previously predicted.

“The impact of the tax legislation and reduction in regulations continue to drive IT job market growth,” said Janco CEO Victor Janulaitis. “More CFOs have given CIOs the green light to expand staffs. The prospects for a trade war has not yet had an impact on those plans. Overall we hear that regulations like GDPR for the EU and cyberattacks are driving the demand for more individuals in security roles and development for mobile-device applications which enhance security and processing like blockchain.”

Most of the C-level executives Janco has interviewed are expecting a booming economy, Janulaitis said.

“They are planning for extensive growth and expansion,” he said. “The only part of the IT job market that is not doing well is [the] telecommunications sector, which has lost over 21,500 jobs in the last 12 months.”

Many IT pros who have stayed with their companies through the last several years will begin to look for new and better opportunities, Janulaitis said. That will be a major concern for many CIOs and IT managers, he added.

“A good example of the increased demand for IT pros is the demand for information security analyst with many working on GDPR and security compliance issues,” he said. “In our review of over 128 large and midsize organizations, we found that fully one-third are not yet compliant with GDPR, which is required to be in place by the end of May. With the increased dependence on the internet and cloud processing, the exposure that enterprises face can only be mitigated by filling that role with qualified individuals. As a result, salaries for experienced information security analysts and the newly required position of data protection officer (for GDPR) are skyrocketing and are well over $100,000.”


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