IT Employment Decline Slows in July
In July, IT employment declined by 0.47% to 5,114,800 jobs, according to TechServe Alliance, the national trade association of the IT & Engineering Staffing and Solutions industry. On a year-over-year basis, IT employment has dropped by 4.41% since July 2019 shedding 236,000 IT jobs.
Engineering employment increased by 0.18% sequentially to 2,556,500. On a year-over-year basis, engineering employment decreased by 3.67% since July 2019 or a loss of 97,300 engineering jobs.
“After two consecutive months of significant drops in excess of one percent, the rate of decline in IT employment slowed in July. While still notable, the July decline of 0.47% appears to suggest IT employment is stabilizing,” observed Mark Roberts, CEO of TechServe Alliance. “As a sector, IT and engineering continue to fare better than the general workforce. While overall non-farm employment showed significant improvement in July as the hardest hit industries reopened, we expect IT and engineering employment to continue to be more resilient to the devastating economic impact of the pandemic and are poised to recover sooner than most other sectors,” added Roberts.