In a surprising twist for the tech industry, the US IT job market experienced a steep downturn in 2023, adding only 700 jobs compared to the 267,000 jobs in 2022. This dramatic shift, as reported by Janco Associates using US Bureau of Labor Statistics data, suggests a signficant shift in the IT work force.
The report indicates that while over 21,000 IT jobs were created in the last quarter of 2023, the overall growth remained stagnant due to mass layoffs. Interestingly, despite these layoffs, there remains a surplus of vacant IT roles, with about 88,000 positions unfilled.
This paradox is attributed to a skills mismatch in the industry, with a high demand for professionals skilled in AI, security, development, and blockchain, while entry-level positions are increasingly automated. Salaries in AI-related roles are on the rise, suggesting a pivot towards different skills in the IT sector.
Sources include: The Register