While IT Jobs Decline in December, Supply Remains Tight

ALEXANDRIA, Va., Jan. 13, 2023 /PRNewswire/ --?In December, IT employment declined 0.13% month-over-month while the unemployment rate for IT stood at 2.1% in Q4, according to TechServe Alliance, the national trade association of the Technology Staffing and Solutions Industry the unemployment rate for IT. ?On a year-over-year basis, IT employment was down 0.57% from December 2021, a net of 30,900 jobs. The Engineering sector showed a year-over-year job growth rate of 3.44% with the addition of 91,600 jobs during the year and with an unemployment rate of 2.2% in Q4.

"While the decline in IT jobs and the stunningly low unemployment rate in IT seem contradictory, I attribute it to the uneven impact of the economic downdraft.? While some sectors are contracting and pulling back on hiring and even engaging in layoffs as reflected by the actions of some high-profile tech firms, other parts of the economy continue to thrive and expand their teams," commented Mark Roberts, CEO of TechServe Alliance.? "While this 'realignment' inevitably creates churn which can be reflected as a decline in jobs, the unemployment rate of 2.1% tells the story?there remains a shortage of IT professionals in high demand skill sets," added Roberts.?

The following table presents information about the total number of jobs in certain sectors that provide a significant amount of employment for IT and engineering professionals. ?

Technical note:?TechServe Alliance's IT Employment Index and Engineering Employment Index are the first specific measurements of IT and engineering employment.? These unique measurements of total IT and engineering employment are created monthly by studying the ongoing staffing patterns of a dozen IT and computer related occupations in 22 industries and industry sectors employing significant numbers of IT workers and nearly two dozen engineering occupations in 30 select industries and industry sectors employing significant numbers of engineering workers. Both the monthly IT Employment and Engineering Employment Indices are based on U.S. Bureau of Labor Statistics (BLS) data, which is subject to monthly revisions, and is revised accordingly. Both indices are also subject to periodic revisions and annual revisions / benchmarking that includes revisions to several years of employment data, which also may incorporate new occupational definitions. Both indices were revised / benchmarked going back several years starting with January 2022 data and published in February 4, 2022. In addition, both indices are subject to minor revisions to March and April data. The next major revision will be published in February 2023.

ABOUT TechServe Alliance?

TechServe Alliance is the national trade association of the IT & Engineering staffing and solutions industry. IT & Engineering staffing and solutions firms count on TechServe Alliance to keep their leadership informed, engaged, and connected. TechServe Alliance serves as the voice of the industry before the policymakers and the national and trade press. By providing access to the knowledge and best practices of an entire industry and tapping the "collective scale" of its members, TechServe Alliance supports its members in the efficient delivery of best-in-class IT & Engineering staffing and solutions for clients and exceptional professional opportunities for every consultant.

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SOURCE TechServe Alliance