IT Job Market Shrinking

The U.S. government announced last week that the unemployment rate has fallen to 7.8 percent the lowest since President Obama took office. But the numbers aren’t improving across all sectors at least according to one international consulting firm.

Statistics from Janco Associates show that the IT job market shrank by 6,600 jobs last month and that the number of IT jobs added in July has been adjusted from what was first thought to be 12,400, down to 3,200.

The year to year comparison of workforce participation shows how deep a hole we are in,” said Victor Janulaitis, CEO of Janco Associates. “Until those percentages turn around there will be little hope for a strong recovery.”

A Janco survey of CIOs found that many are cautious but feel that overall hiring will improve significantly in 2013 and are initially budgeting accordingly.

The health-care job market continues to be a bright spot on the overall U.S. labor market and is one area where ITpPros can go with the flow and find job opportunities, Janco said. The implementation of Electronic Patient Records is one of the driving forces in the increased opportunities in this area.