IT Jobs Up in October
U.S. adds 6,600 IT jobs; August report revised with better numbers as well.
Insurance Networking News, November 5, 2012
The IT job market grew by 6,600 jobs in October, according BLS data from Janco.
More good signs: according to the report, the participation rate increased slightly to 63.8 percent from 63.6 percent; also, the number of jobs added in August was adjusted up by 7,200, from a loss of 6,600 jobs to a gain of 600 jobs
“The jobs picture for IT Pros is looking better. Maybe we are coming out of the recession, but it is a slow and arduous process,” said Victor Janulaitis, CEO of Janco Associates. “Our findings are that CIOs are looking to add staff at the ‘worker bee’ level to meet short-term needs. Few major new initiatives are in the queue for the first and second quarters of 2013.”
According to BLS data, the entire job market in the U.S. increased by 171,000 jobs in October, and the job market participation rate edged up 0.2 percent of the labor force.
Janco remains concerned that the labor market participation rate is at a record low level. However, according to the report, early signs of a recovery are beginning to appear.
“The year-to-year comparison of workforce participation shows how deep a hole we are in. Until those percentages turn around, the recovery will be weak and take several quarters to improve overall IT employment opportunities,” Janulaitis said.
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