IT job market improves with 34,200 jobs added in June and median IT salaries edging up according to Janco Associates
July 12, 2016 (PRLEAP.COM) Business NewsJuly 12, 2016 - Park City – UT – www.e-janco.com – Janco's latest IT Salary Survey has been released and along with its analysis of the latest employment data from the BLS shows the IT job market has reversed most of the losses in IT jobs which occurred in May. In addition, the Mid-Year 2016 IT Salary shows that the median salary for IT professionals now is $82,775.
The CEO of Janco, M.V. Janulaitis said, "The trend in the creation of new IT jobs Janco's continues to below last year's. However, there was a significant rebound from the prior months IT job market growth's moving average to a 0.44% from a negative 0.51% growth rate (a +0.95% favorable move)."
The CEO added, "There could potentially be a net decrease in the size of the IT Job Market in 2016. We have already adjusted our best case forecast for net new IT jobs for the balance of this year and have changed our forecast to an estimated net new IT job to be created to 76,500." He added, "Many companies are cutting back on contractors and consultants. They are new jobs being created in the application development sector of the IT job market. We feel this trend will continue until the November election in the US and thru the 4th quarter of this year."
Janco interviewed over 96 CIOs in the last several weeks as part of its Mid-Year 2016 IT Salary Survey ( http://www.e-janco.com/salary.htm ) data collection process. CIOs are less optimistic this year as at the same time last year. A preliminary hiring forecast by job levels within the IT function shows that long term hiring plans for both IT Staff and "contractors/consultants" is flat.
Janulaitis stated, "The current economic picture, especially with factors like the US November election and BREXIT, are not conducive for increased IT spending and job market expansion. In periods like the one we are going thru, all companies are cautious and often see cost containment as the prudent direction to follow. The focus for this caution is on IT infrastructure "cost center" spending in areas like training, software - hardware upgrades, and elimination of non-essential consultants, staff and IT initiatives. In addition, as cost cut-savings technique, when "baby-boomers" retire many of those positions are not being filled."
The CEO said, "We see that finding opportunities for IT professionals is difficult at best. Only those with the right set of experiences are even given interviews."
The CEO also said, "On the plus side, CIOs report that CFOs are not completely adverse incremental spending for IT related activities that have operational support and have a good ROI. We have found no IT initiatives that are being approved to upgrade technology for the sake of IT's desire to have the latest new thing."
Janco is an international consulting firm that follows issues that concerns CIOs and CFOs and publishes a series of IT and business infrastructure HandiGuides® and Templates including a Disaster Recovery/Business Continuity Template, Security Template and its semi-annual IT Salary Survey.