The IT unemployment rate fell to 5% in March, though the overall IT job market shrank, IT consulting firm Janco Associates reported.
IT unemployment dropped from a high of 5.7% in January, while terminations of IT professionals exceeded hiring over the past three quarters, according to the April 4 blog post.
“There continues to be uncertainty in the outlook for IT initiatives, except for AI implementations which focus on staff reductions,” Janco Associates CEO Victor Janulaitis wrote in the post. “Jobs that have been lost are in the telecommunication and support functions. Many of the telecommunications jobs have taken the brunt of the AI staff reduction efforts.”
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