IT job market hits lowest growth rate in 5 years

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IT job growth significantly slowed in April, producing the lowest growth numbers in five years, reports The Wall Street Journal, citing an analysis of Bureau of Labor Statistics data by consulting firm Janco Associates.

In April, employers hired 3,800 IT workers across all industries, compared to 5,000 hired in March and 16,000 hired in April 2015, according to the report.

Additionally, by the end of April this year, companies created 23,700 IT jobs, compared to the 49,900 IT jobs created during the same time period in 2015, according to the report.

Victor Janulaitis, CEO of Janco, told WSJ companies seeking to cut costs are directing IT spend on training and software and hardware upgrades instead of on personnel, a trend he expects to continue into the third quarter of this year.

Indicative of such, IT job postings fell by 17,200 from March to April, according to the report.

More articles on jobs:

Microsoft to cut 1,850 jobs as smartphone business dwindles 
Humana to hire 100 new workers in Florida 
How healthcare workers will be affected by new overtime pay rules 

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