October Employment Trends for the IT Sector

Unemployment rate, seasonally adjusted,  October 2011 – October 2013

Unemployment rate, seasonally adjusted,
October 2011 – October 2013

ITJobsWeb.com, the leading information technology jobs and computer employment website for IT professionals, offers an overview of key employment trends in the computer systems and design industry for October 2013 based on preliminary statistics reported by the U.S. Bureau of Labor Statistics (BLS) in the monthly Employment Situation Economic Release.

The U.S. Bureau of Labor Statistics released a report November 8, 2013 announcing a .19 percent increase in the number of workers in the computer systems and design industry from September 2013 –October 2013. The computer systems and design industry now employs 1.70 million workers compared to 1.69 million in September2013. These statistics from the U.S. Bureau of Labor Statistics are seasonally adjusted. All normal seasonally changes within the computer systems and design industry have been discounted to provide exact monthly changes.

BLS houses computer systems and design under the larger professional, scientific, and technical services sector. This sector has not seen any mass layoffs since June 2013. The unemployment rate within this sector has fluctuated greatly since June 2013. In June 2013 the unemployment rate was its highest at 5.6 percent. That number dropped drastically in July 2013 to 4.6 percent, rose in August 2013 to 4.9 percent and rose again in September 2013 to 5.1 percent. In October 2013 the rate dropped down to a reported 4.8%.

Although the employment rate in its overall sector has been relatively inconsistent, the computer and design jobsindustry specifically is one of the few sectors that have seen great progress since the recession. The Bureau of Labor Statistics predicts rapid growth for the industry over the next decade. Expected output growth by 2020 is 6.1 percent on average per year. Employment in this sector is expected to increase 3.9 percent annually leading up to 2020, compared to a mere 1.3 project growth for all industries.

Cloud computing and cyber security employment are in the forefront, believed to be the two major forces catapulting IT industry jobs to greater heights. The demand for IT professionals is expected to rise as an increasing number of organizations move towards utilizing computers for everyday tasks. Healthcare IT, mobile networking, and data management may also contribute to employment growth. Executive positions within the computer systems design industry boast the highest pay with Chief Executives of tech companies earning an annual mean wage of $208,420. Many of these executives typically have a background in information technology. IT Systems Managers also lead the pack with an annual mean wage of $137,390.

 

Category: IT Employment News

About the Author ()

Grant McElmury is a 12-year IT Job professional, specializing in career advancement and work-life satisfaction.

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