For the IT industry, the job outlook in the month of April brought quite a bit of optimism. The U.S. Bureau of Labor Statistics announced 223,000 new jobs were added last month and, of those, the IT industry contributed close to 21,000 new jobs. March’s numbers were revised down to 85,000 jobs from 126,000 which means April saw 97,000 more jobs added than the month prior.
The unemployment rate is also heading in the right direction. It now sits at 5.4%, which is the lowest jobless rate since May 2008. Over the year, the unemployment rate experienced a 0.8 percentage decrease.
But the big news this month is the significant job gains in the IT industry. Experts are predicting 49% of employers in the IT industry will add full-time headcount in Q2.
IT Industry Unemployment Rate Experiences Significant Decrease
The Professional and Business Services sector, which includes IT related professions, added 62,000 jobs in April. Within the industry, computer systems design/related services added 9,000 jobs, business support services added 7,000 jobs and management/technical consulting services adding 6,000 jobs.
This industry’s sub-sector, Professional and Technical Services, currently has an unemployment rate of 3.0%, which is a 0.3 percentage point decrease from March. In this specific sub-sector, there are 8.6 million employed with 20,7000 jobs added over the last month.
April Fast Facts
Hourly Earnings Continue to Rise
The April jobs report has yet another piece of good news for the American workforce. Hourly wages are going up! Over the past year, average earnings have risen 2.2%. The current rate for all employees is $24.87, which is a 3-cent increase from the month prior.
The IT industry has experienced consistent growth each month which means the competition for top talent will continue to increase. Modis is here to make sure your business is moving forward and to help you keep pace with the ever changing world of technology. Check out our Salary Guide to ensure your workforce is evolving along with the industry or contact us today!