IT Employment Stabilizes in May—Rate of Decline Decelerates
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.