IT Unemployment Outlook: May 2013
The demand for IT professionals remains strong while available talent shrinks.
The unemployment rate for IT professionals dipped down to 3.4% according to Labor Force Statistics from the Current Population Survey by the Bureau of Labor Statistics. This rate is more than 4 points lower than the current national unemployment rate of 7.5%.
Meanwhile, the overall number of jobs for IT professionals have grown by 5.1% since April 2012. "IT employment has grown for the 17th consecutive month hitting yet another all-time high," stated Mark Roberts, CEO of TechServe Alliance. "IT continues to handily outperform most other sectors with an annual growth rate of more than three times the growth rate of the general workforce."
Healthcare IT Worker Shortage
IThe availability of top IT professionals remains a concern for many healthcare organizations. There will be an ongoing, urgent need for skilled healthcare IT workers in response to new government requirements and financial incentives. For the immediate future, available healthcare IT talent will continue to be well short of the growing demand in that discipline. As a result of this supply/demand pressure, the cost of qualified professionals is escalating rapidly.
A new Towers Watson survey confirms this assertion finding that two-thirds of healthcare organizations are having difficulty hiring experienced IT workers. The survey, featuring responses from more than 100 healthcare organizations, also reported that 38% of respondents also have concerns with retaining their IT talent.
U.S. IT Unemployment Rates by State
Developed from Bureau of Labor Statistics March 2013 Unemployment Data.
|State||Overall IT Unemployment||Overall Rate|
|DISTRICT OF COLUMBIA||3.9||8.5|
U.S. Unemployment Data Range: March 2013
Unemployment Statistics Source: U.S. Bureau of Labor Statistics, Unemployment Rates for States Monthly Rankings Seasonally Adjusted Mar. 2013 & Labor Force Statistics from the Current Population Survey.
(1) Unemployment rates for healthcare professionals are not reported separately but are thought to be a very small sub-set of this total.