IT job market improved in October as 40,200 new IT jobs were added in the last 3 months. For 2014 there have been 111,100 jobs added
Park City - UT –The overall unemployment rate improved to 5.8% and the job market participation rate rose to 62.8%. The CEO of Janco Associates, Inc. , Mr. M V Janulaitis said, "In the case of computer science and IT professionals, 9,500 jobs were added in October, with adjustments 40,200 jobs were added in the last 3 months, and increased by 111,100 jobs in 2014. That is real explosive growth. In our professional opinion, the recovery is in place for IT Pros. " Mr. Janulaitis said, "Hiring is across the board, as many CIOs have been given the green light to start hiring. " Janulaitis added, "Based on interviews of 95 CIOs in the last several weeks, we find that hiring is on a definite upswing and there is a definite shortage of IT pros who deal with cloud based applications and mobile computing. In support of this, as we are capturing data for our next IT salary survey which is to be published in January, we are finding that there is an upward pressure on compensation for the first time since 2002. "
From a review of the latest BLS data, Janco has found that there was a net increase of 40,200 jobs in the last three months. The three month moving average for new IT jobs is now showing explosive job growth.
The labor market participation rate remains rose slightly as more individuals have started to look for jobs. The CEO said, "The over-all labor participation rate rose back to where it was last year at this time - a good sign. "