Alexandria, VA, June 7, 2023 – IT jobs growth inched down only 0.08% month-over-month in May, according to TechServe Alliance, the national trade association for the Technology Staffing and Solutions Industry. On a year-over-year basis, IT employment was down 2.30% from May 2022, a net loss of 125,300 jobs. The Engineering sector showed a year-over-year job growth rate of 2.86% with the addition of 77,800 jobs during the year.
“The May IT employment numbers show a promising trend – while employment continued to decline, we see a deceleration in the rate of decline in the last three months,” observed, Mark Roberts, CEO of TechServe Alliance. He noted that while hiring has slowed down in the tech industry, particularly in places like Silicon Valley, there are other sectors and geographic regions that continue to expand their IT workforce to keep pace with the emerging trends and technologies that are reshaping all industries.
“Rapid advancements in artificial intelligence, cloud computing, cybersecurity, and other areas demand that companies remain at the forefront of industry developments to remain competitive and seize new opportunities. Adding IT talent to their rosters is critical to their achieving their business goals,” Roberts said.
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. The indices are also subject to annual revisions and rebenchmarking and may incorporate new occupational definitions. The most recent rebenchmarking took place with the dataset utilized in this February 2023 release.
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.
DPP® is a member of TechServe Alliance.
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This article is reproduced with permission from TechServe Alliance. The views represented in this article are not necessarily the views of DP Professionals, Inc.