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Unemployment Rate in IT

Unemployment Rate in IT

Author: Chris Alex /Tuesday, July 10, 2018/Categories: SNI Companies, SNI Technology

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The start of 2018 presented a surprisingly low unemployment rate across the country in most industries, including Information Technology. Just one year ago, the unemployment percentage in IT was averaging at 3% nationally, and, today, that rate is right at 2%. This decrease in the unemployment statistic shows that more and more companies are on the hunt for IT specialists of all levels, making this profession, not only a growing one, but a sought after, as well.

Seeing that Information Technology continues to be on the rise and recruiting new talent, it is important to then recognize the areas in IT that are allowing the unemployment rate to stay at a minimum. Like all industries, entry level positions are often the easiest to come by – These commonly consist of fresh, young talent with new ideas but eager to learn and not above doing the grunt work. A low unemployment rate at this level is not much of a mystery. Where we should move our attention is to the new technologies such as, Augmented Reality, Artificial Intelligence, and many other systems that are emerging today, both privately and commercially. These areas of expertise are allowing jobs to open for more specialized technology specialists and like-minded professionals, keeping an influx of tech experts hungry in this space.

However, as low as the unemployment rate is now, it is realistic to understand this number fluctuates quite often and even the most relevant and essential IT positions can lose their jobs. Because of this, companies turn to contractors and freelancers to utilize their skills on a less permanent basis. Data reports do not count these tech-pro’s as full-time workers even though they are self-employed and / or employed on a contractual basis because they do not receive official benefits or traditional 40+ hour work weeks recorded internally. That said, if these professionals were to be included in the overall unemployment percentage, this rate would read even lower.

Conclusively, Information Technology professionals are sitting in era of indefinite growth and high demand. While the economy shifts regularly, this is an industry that has successfully changed with the times, and, in various ways, already surpassed many minds of this generation. The 2% unemployment rate is a direct correlation of how businesses are investing both dollars and time into their IT employees across the board.

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Chris Alex
Chris Alex

Chris Alex

Chris comes with 10+ years of Specialized Staffing industry experience and he has placed 400+ Professionals in various markets.

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Full biography

Chris comes with 10+ years of Specialized Staffing industry experience and he has placed 400+ Professionals in various markets. He is a multi "Reach for the Stars (both Chairman's Club and President's Club)" Winner and he prides himself in having a high level of ethics while providing his clients with the highest level of service possible.

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