IT Employment Growth Slows to a Trickle; Engineering Employment Surges
In August, IT employment increased by 0.06% to 5,374,700 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 increased by 4.60% since August 2020 adding 236,400 IT workers.
Engineering employment grew by 0.41% sequentially to 2,632,700. On a year-over-year basis, engineering employment increased by 3.08% since August 2020, adding 78,600 engineering workers.
“While IT employment reached a new all-time high, the rate of growth has slowed to a trickle,” observed Mark Roberts, CEO of TechServe Alliance. “In talking with owners and executives of IT staffing companies who specialize in recruiting IT professionals, demand is ‘off the charts’ with a limited supply of available talent. It is a candidate-driven market. To be successful, a company interested in hiring IT professionals in high demand skill sets must be willing to offer competitive wages (many do not), have a workplace culture that is attractive to workers, allow for maximum flexibility, and make hiring decisions quickly. Fall short on any of these fronts, and you are likely to be on the losing side of the ‘war for talent’” added Roberts.