The Talent Supply and Demand Imbalance Continues to Plague IT Job Growth in October
In October, IT employment dipped 0.14% over September’s numbers, according to TechServe Alliance, the national trade association of the Technology Staffing and Solutions Industry. On a year-over-year basis, IT employment slipped 0.19% from October 2021, down a net of 10,200 jobs. The Engineering sector showed a year-over-year job growth rate of 3.6%, adding 95,900 jobs during the year.
“Headlines may say that there are significant economic headwinds, but it’s important for businesses to understand that the 2.3% unemployment rate for IT tells a different story,” said TechServe Alliance CEO Mark Roberts. “It tells us that the lack of growth in IT jobs is not a demand issue, it remains a supply problem. Fundamentally, there are simply not enough people to fill the vacant jobs, and that will not change in the foreseeable future,” added Roberts.