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Job Listings For IT Workers Have Fallen 85 Percent in Four Weeks As Companies Pull Back From IT Investments

·Yahoo Finance Plus
·1 min read

Demand for US IT jobs has fallen precipitously since March 15, and the volume of job listings for IT workers has dropped 85 percent. This is according to labor market intelligence firm Greenwich.HR, which tracks daily hiring and job listing activity.

‘In early April, media outlets were reporting that certain types of IT jobs were actually holding up well; that’s no longer the case,’ says Kevin Moldestad, Greenwich.HR’s chief operating officer. ‘It’s likely that any hiring volume in the early part of April was hold-over from earlier plans, but in the last couple of weeks the picture has stabilized. It’s a painful picture.’

All types of IT jobs have seen a sharp decline. Job listings for data engineers and security engineers for example – often among the most sought-after IT jobs – have fallen by over 90 percent.

Change in new US job listings for IT jobs between March 15, 2020 and April 18, 2020
Change in new US job listings for IT jobs between March 15, 2020 and April 18, 2020

The overall drop in demand for IT workers has been sharper than even the drop for workers in retail and hospitality roles. IT jobs has gone from one of the most robust job families to the most impacted.

‘All of this suggests companies across all industries have dramatically changed plans for their IT investments and are cutting back,’ says Cary Sparrow, Greenwich.HR’s CEO.

Daily new US job listings by job family - 7 day moving average
Daily new US job listings by job family - 7 day moving average

This analysis is based on job listing data from 728 thousand hiring organizations. It includes data from over 6.4 million US job listings which were open during between March 1 2020 and April 30 2020.

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