IT job market turns softer for the second half of 2015
Posted: Aug 11,2015
The first half of 2015 saw the IT job market turn softer than how it began. The growth of IT jobs is still soft and it seems to be shrinking further. The primary objective of enhancing the growth of our IT industry is to create further opportunities. An estimated 160,000 IT jobs are likely to be created within the last quarter of this year.
Figures depicting profits of the job market in July were countered by the revision of stats for June and May.
During May and June 2015, the latest BLS stats were meant to offset the earlier figures. The revisions reduced the figure for May to 12,700 from 13,600, while the figure for June was reduced to 5,200 from 8,600. Keeping with the figure of about 19,000 jobs in July, the tech sector may undergo further layoffs in the coming months.
According to the industry records, some 183,600 IT jobs have been added during the past 12 months, which depicts positive growth of our job market.
For decades, the participation rate of our labor force is falling with the lowest being depicted at 62.6 percent in 2015.
In July, some 215,000 jobs were added and now our economy reflects unemployment worth 5.3 percent. Although it’s possible for most techies to experience another salary hike this year, the other industries are set to remain stagnant and cope with the effects of inflation.