IT Job Growth Rate Remains Flat Due to Ongoing Worker Shortage

ALEXANDRIA, Va., Oct. 13, 2022 /PRNewswire/ -- In September, IT employment dipped 0.13% over August's numbers, according to TechServe Alliance, the national trade association of the Technology Staffing and Solutions Industry. While there have been small month-to-month variances, IT employment has been effectively flat for more than a year.  On a year-over-year basis, IT employment inched up a mere 0.01% from September 2021, adding a net of 500 jobs. The Engineering sector showed a year-over-year job growth rate of 3.7%, with the addition of 97,900 jobs during the year.

"While IT employment dipped modestly in September, when we step back and look at multiple data points it is clear we are in a no-growth environment due to the lack of available talent," observed TechServe Alliance CEO Mark Roberts.  "In addition to adding only 500 net new IT jobs (reflecting a mere 1/100 of one percent increase) and an IT unemployment rate of only 2.3% in Q3, there were almost 500,000 registrations in the most recent H-1B lottery competing for 85,000 visas for skilled foreign workers."

Even if some sectors of the economy soften and pull back in their hiring, demand for tech talent will continue to outstrip supply for the foreseeable future, Roberts added.

The following table presents information about the total number of jobs in certain sectors that provide a significant amount of employment for IT and engineering professionals.    

Technical note: TechServe Alliance's IT Employment Index and Engineering Employment Index are the first specific measurements of IT and engineering employment.  These unique measurements of total IT and engineering employment are created monthly by studying the ongoing staffing patterns of a dozen IT and computer related occupations in 22 industries and industry sectors employing significant numbers of IT workers and nearly two dozen engineering occupations in 30 select industries and industry sectors employing significant numbers of engineering workers. Both the monthly IT Employment and Engineering Employment Indices are based on U.S. Bureau of Labor Statistics (BLS) data, which is subject to monthly revisions, and is revised accordingly. Both indices are also subject to periodic revisions and annual revisions / benchmarking that includes revisions to several years of employment data, which also may incorporate new occupational definitions. Both indices were revised / benchmarked going back several years starting with January 2022 data and published in February 4, 2022. In addition, both indices are subject to minor revisions to March and April data. The next major revision will be published in February 2023.

TechServe Alliance is the national trade association of the IT & Engineering staffing and solutions industry. IT & Engineering staffing and solutions firms count on TechServe Alliance to keep their leadership informed, engaged, and connected. TechServe Alliance serves as the voice of the industry before the policymakers and the national and trade press. By providing access to the knowledge and best practices of an entire industry and tapping the "collective scale" of its members, TechServe Alliance supports its members in the efficient delivery of best-in-class IT & Engineering staffing and solutions for clients and exceptional professional opportunities for every consultant.

SOURCE TechServe Alliance