IT hiring on the uptick
There are now 2,764,400 individuals employed in IT versus 2,718,600 in May of 2010.
Since January there has been an up trend in the number of individuals employed in the IT jobs. The greatest increase has been in jobs that are related to the IT support functions as companies are beginning to staff back that was cut earlier in response to the recession. These tend to be the "lower paying" jobs within the IT infrastructure.
In addition the rate of job losses in Telecommunication and Data Processing and Hosting has continued to decelerate. The implication is that if the recovery continues, then there may be positive job growth in those sectors. Janco estimates that positive job growth in these sectors will be seen by the first quarter of 2012.
There has been a steady increase in the number of overall employment for IT related jobs. For the last few months the number of individuals employed in IT has increased by 7,300 in March, 9,100 in April, 10,000 in May, and 45.800 in the last 12 months.
Health Care vs. Financial Services Job Growth
Employment is on the rise in Healthcare IT and spending will reach $40 billion by the end of this year. Much of that growth will come from spending on electronic health record (EHR) systems, mobile health applications and efforts to comply with new government standards. Boosted by increased spending on healthcare software -- which is needed for the rollout of EHR systems -- the U.S. healthcare IT market is expected to grow at a rate of about 24% per year from 2012 to 2014, the study said. Spending on healthcare software rose 20.5% in the past year, from $6.8 billion in 2010 to a projected $8.2 billion this year. Recent mergers and acquisitions in the healthcare IT market also point to growing private-sector interest in software, which will see sales grow at rate of more than 30% annually from 2012 to 2014.
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Janco is a consulting firm that publishes the IT Salary Survey, Browser Market Data, and the organizational and IT Infrastructure HandiGuide® series of books.