The imbalance between supply and demand for talent continues to hurt IT employment growth in October

ALEXANDRIA, Va., November 10, 2022 /PRNewswire/ — In October, IT employment fell 0.14% from September figures, according to TechServe Alliance, the national trade association for the staffing and technology solutions industry. Year-over-year, IT employment was down 0.19% from October 2021, down a trickle of 10,200 jobs. The engineering sector posted a year-over-year employment growth rate of 3.6%, adding 95,900 jobs during the year.

“Headlines may say there are significant economic headwinds, but it’s important for businesses to understand that the 2.3% unemployment rate for IT tells a different story,” said the CEO of TechServe Alliance. Mark Roberts. “This tells us that the lack of IT job growth is not a demand problem, it remains a supply problem. Basically, there just aren’t enough people to fill the vacancies, and that won’t change for the foreseeable future,” Roberts added.

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

TechServe Alliance IT Employment Index Comparison to Employment
in certain key sectors with a significant number of IT jobs as well as all non-agricultural jobs

October
2022

TechServ
Alliance

THIS
Use
Index

computer
systems
and
pattern
services

Management
and
technical
consultant
services

Data
Processing,
accommodation
and
Related
services

TechServ
Alliance

Engineering
Use
Index

computer
and
electronic
product
manufacturing

Professional
and
technical
services

Federal,
state, and
Local
Government
(excluding
state and
local
schools
and
hospitals)

Total
non-agricultural
works

number of jobs

5,391,700

2,447,000

1,784,900

423,400

2,743,900

1,096,600

10,581,300

110,868,800

153,308,000

change from previous month

– 0.14%

+0.4%

+0.4%

+0.2%

+0.31%

+ 0.5%

+0.4%

+0.2%

+0.2%

change compared to the same month a year earlier

– 0.19%

+4.6%

+ 6.5%

+7.7%

+ 3.62%

+ 2.9%

+5.0%

+ 0.5%

+ 3.6%

note: all figures are subject to revision

Sources: Department of Labor/US Bureau of Labor Statistics and TechServe Alliance

Technical Note: The TechServe Alliance’s Computer Science Employment Index and Engineering Employment Index are the first specific measures of computer science and engineering employment. These unique measures of total IT and engineering employment are created monthly by studying the staffing patterns of a dozen IT and IT-related occupations across 22 industries and industry sectors employing significant numbers. of IT workers and nearly two dozen engineering occupations in 30 select industries and industries. sectors employing a significant number of engineering workers. The monthly indices for IT employment and engineering employment are based on data from the United States Bureau of Labor Statistics (BLS), which is subject to monthly revisions and is revised accordingly. Both indices are also subject to periodic reviews and annual reviews/benchmarking which include reviews of multiple years of employment data, which may also incorporate new occupational definitions. Both indices have been revised/calibrated over several years starting with January 2022 data and published in February 4, 2022. In addition, both indexes are subject to minor data revisions for March and April. The next major revision will be published in February 2023.

ABOUT TechServe Alliance

TechServe Alliance is the national trade association for the staffing, IT and engineering solutions industry. Staffing, IT and engineering solutions companies rely on TechServe Alliance to keep their leaders informed, engaged and connected. TechServe Alliance is the industry’s voice for policy makers and the national and trade press. By providing access to knowledge and best practices from across an industry and leveraging the “collective scale” of its members, TechServe Alliance supports its members in the effective delivery of best-in-class computing and engineering personnel and solutions for exceptional clients and professionals. opportunities for each consultant.

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SOURCE TechServe Alliance