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IT Jobs and larger economic data

Hiring tech people is harder.   How much?   19 days harder.    Why do I say that.   Companies take an average of 61 days to fill a tech job, and 42 days for a non-tech one.  That’s from iCIMS 2021 Workforce report.

While we’re at it, tech unemployment is improving, up around 8,000 job openings in emerging technologies.  Those jobs are about 28% of all new IT posts.    US tech companies added 19,500 jobs to payrolls in January, and across industries, companies added 78,000 positions in IT.

Let’s talk broader economy too.

I’m highlighting a Vox article that digs into multiple data points on the economy.  I’m highlighting just a few of their seven points.

  • Education attainment matters. The more education, the more stable the job situation.
  • Job postings are down in areas where work from home is more an option. Why?  It’s bad for those jobs that depend on going to the office, like lunches out, haircuts, and other services.
  • If it can be done online, it’s up, but areas like arts, beauty, hospitality and tourism are all way down.
  • Unionized workers were less impacted than those non-unionized.

Why do we care?

Tech is one of those insulated industries.  We serve industries that are across the spectrum.    

Planning for hiring in tech should come with the expectation it will take this long.  This is an important detail for planning when to project for hiring.

Additionally, use this data to analyze your customer base.  I’ve included the link because it offers more insights I didn’t cover, particularly around the communities impacted.

Source: CIO Dive, CIO Dive

Source: VOX