In October, IT employment inched down 0.08%, or a loss of 4,200 jobs, month-over-month, according to TechServe Alliance, the national trade association for the IT & Engineering Staffing and Solutions Industry. On a yearly basis, the IT job market dipped 0.34%, with a loss of 18,100 positions. Employment in Engineering was up 0.76% year-over-year, adding 21,300 jobs during the same period.
“Consistent with the marked drop in employment growth in the broader jobs market, the October IT jobs numbers reflect weakness as we move into late 2024. We also see this trend in IT unemployment which is now at 4%—effectively in parity with the overall unemployment rate of 4.1%. Historically IT unemployment has been much lower than the broader jobs market,” said Mark Roberts, CEO of TechServe Alliance.
“What remains to be seen is if this trend continues as we move into 2025. With two major storms impacting the Southeast and the Boeing strike, the decline may be a single month’s aberration rather than an enduring trend. Long-term, we know there will be a shortage of highly skilled IT professionals to meet the demands of U.S. businesses, particularly in the areas of cloud, cybersecurity, and AI,” Roberts added.
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