Alexandria VA, Nov. 8, 2023 \u2013 IT employment remained essentially flat in October, ticking down 0.07% month-over-month, according to TechServe Alliance, the national trade association for the Technology Staffing and Solutions Industry. When analyzed on a yearly basis, the IT job market contracted by 1.87% since October 2022, translating to a loss of 101,200 positions. The Engineering sector reported a year-over-year job growth rate of 1.82% with the addition of 50,100 jobs during the year.<\/p>\n
\u201cAfter steeper declines in IT employment during the second half of last year through the first half of this year, employment levels have been essentially \u201crunning in place\u201d for the last six months. While hiring has slowed as many employers continue to wait for the recession \u2018shoe to drop,\u2019\u00a0the talent supply is still tight in high demand skill sets,\u201d stated Mark Roberts, CEO of TechServe Alliance. \u201cParadoxically, we have softer demand, but IT unemployment in Q3 stood at only 1.94%—well below full employment. It remains a weird market,\u201d observed Roberts.<\/p>\n