IT Employment Up 10% Over Past Year

Despite the labor-market sagging effects of of our current economic malaise, somewhat surprisingly, overall employment in the IT sector is up a strong 10% year-over-year (2nd quarter '08 compared to '07).

Considering the steep slide in the labor market over the past few quarters, the growth in IT employment represents amazing strength and resiliency, in what is mostly an otherwise dismal period for labor market participants of nearly all stripes. Only a handful of other employment groups (notably health care) have held their own over the past year.

According to the report by the BLS (Bureau of Labor Statistics), unemployment in the IT worker category (which includes virtually all major technology job groups) sits at 2.2% nationwide, far better than the 5.5% overall unemployment rate nationally.

The BLS report doesn't address employment in the Puget Sound region (and the state's data doesn't adequately tease out this group either), but there is no doubt that IT/technology professionals remains an area of strength here too, despite the overall downward trajectory of the regional labor market over the past few months.

With all the major difficulties in the financial sector, it remains to be seen if the strength in the IT/tech group can be maintained, as banks are major employers of IT professionals.

Regardless though, this data should convince all employers of technology professionals, that just because the economy is down, it doesn't mean that employers can be complacent about staying competitive and in building/maintaining programs that attract, motivate and retain this key group of professionals.