IT job market grew by 5,700 jobs in February. However this is a slower growth than in January, which had 9,800 new jobs, according to BLS data. The latest data shows a small increase in the number of employed IT professionals and prospects are mixed, according to analysis by Janco Associates. “There were 5,700 more IT professionals employed in February than in January,” said Victor Janulaitis, CEO of Janco Associates said. “However, much of the most recent growth has been in the government sector, and with “sequester” there could be a reduction in the number of those jobs. On the downside, the BLS has adjusted the number of jobs that were added in January from 12,500 to 9,800.”
In February 2013, health care saw a 2.13-percent growth over February 2012, and finance and insurance saw a 1.30-percent growth. “The health care job market continues to be a bright spot on the overall US labor market and is one area where IT Pros can go with the flow and find job opportunities,” according to Janco.
Janco’s independent survey of 106 North American CIOs shows that the hiring freezes of 2008 through 2012 are slowly easing. “We are seeing greater demand for mid-level managers and technologists who can address demands placed on CIOs for more ‘Web-enabled’ applications and security professionals,” Janulaitis said.
According to the company, CIOs are focusing on the near term demands to hire “proven IT pros and consultants/contractors” and have plans in place for more robust hiring in the summer and fall.
Janco continues to be concerned that the data shows the labor market participation rate remains at record low levels. “Also with “sequester” there is a possibility that the recovery will falter and job growth could slow. The macro trend for labor participation since 2008 still is down by 1.5%. That translates to approximately 4 million people who are excluded from the labor force calculation,” Janulaitis said. “The year-to-year comparison of workforce participation shows how deep a hole we are in. Until those percentages turn around, the overall recovery will be weak at best. If that is the case, then there is a strong possibility that IT demand will be dampened, and overall IT job market size could fall back to the levels of 2010 and 2011.”
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