Plenty of Demand but Lack of Talent Means Tech Employment Remains Flat
August saw no change in IT job growth; it continues to remain flat, down 0.05% in August compared to July, according to TechServe Alliance, the national trade association of the Technology Staffing and Solutions Industry. On a year-over-year basis, IT employment was up a meager 0.19% from July 2021, adding a net of only 10,500 jobs. The Engineering sector showed a year-over-year job growth rate of 4.04%, with the addition of 106,100 jobs over the course of the year.
“There is plenty of demand and positions open, but there are just not enough IT professionals around to meet the needs of businesses,” said Mark Roberts, CEO of TechServe Alliance. “Our members are constantly educating their client companies about the necessity to make quick hiring decisions and to offer competitive benefits and compensation packages. Despite the talks of recession and pockets of layoffs, it is still an employee’s market; we are seeing some candidates with multiple competing job offers.”