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Recession Hit IT - 129K IT Pros Unemployed

June 13, 2024
Substack
Summary
The IT sector is facing signs of a recession with over 129,000 IT professionals unemployed, according to a report by Janco. Adjustments by the Bureau of Labor Statistics (BLS) show a reduction of 14,100 jobs initially reported to have been created in March and April. As of the first five months of 2024, the IT job market saw a net loss of 9,000 jobs, with the unemployment rate for IT professionals now at 4.7%, surpassing the national average.
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