The IT job market is sizzling, with 59,000 new IT jobs created this year through July and 35,000 more expected by year’s end.
That’s according to Janco Associates‘ latest forecast for new IT jobs in 2018. So far, 45,700 more new jobs have been created this year than in 2017.
“The economic picture has created a positive outlook for job growth in general and information technology in particular,” said Janco CEO Victor Janulaitis. “Even with all the turmoil caused by the ‘trade wars‘ and political uncertainty with the upcoming election, CIOs are hiring additional staff at breakneck speeds. As a result, IT pros, for the first time in several years, have the freedom to find new jobs. This is resulting in an increase in the attrition rates within the IT function which CIOs need to deal with if they want to stay ahead of the game. To combat this, many CIOs are planning for increases in pay added to budgets for 2019.”
Janco conducted interviews with 24 CIOs in the last week of July. All of those interviewed said they were actively recruiting for IT professionals for new development activities and replacements for those who have left in the last few months. Attrition rates are the highest they have been in the last several years.
“CIOs are now more optimistic about the direction their organizations are moving and are looking forward to increased budgets and staffing as they begin the 2019 budgeting cycle,” Janulaitis said. “The only down side that most see is the potential impact of the ‘trade wars’ that seem to be starting.”
Janco also has interviewed more than 100 CIOs in the last several weeks as part of it’s data gathering process for the mid-year survey.
CIOs are optimistic that the economy will continue to improve, Janulaitis said. They are actively working on 2019 budgets and are planning for increased IT spending for hardware, software and staffing.