IT Employment Growth Stalls in May

IT employment in May was essentially flat, inching down a mere 200 jobs month-over-month, according to TechServe Alliance, the national trade association for the IT & Engineering Staffing and Solutions Industry. When analyzed on a yearly basis, the IT job market contracted by 0.41%, or a loss of 21,900 positions, the loss continues to narrow.  Employment in Engineering was up 1.51% in a year-over-year comparison, adding 42,200 jobs during the same period.

“After four consecutive months of reporting modest growth, May IT employment was effectively flat,” observed Mark Roberts, TechServe’s CEO. “Although the overall job market posted strong gains, IT employment is still struggling to gain momentum after the extraordinary run-up in the aftermath of Covid.  With a multitude of mixed signals from the economy and pervasive uncertainty including the future direction of the Fed’s interest rate policy, many employers remain cautious in their hiring.  A counterweight to this caution is the need for companies to continue to invest in IT initiatives such as AI that are essential to maintaining a competitive edge,” added Roberts.

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