Is the IT industry in a recession?
It appears that way, according to data from IT management consultant Janco Associates.
The IT market lost 9,000 jobs during the first five months of 2024, per a June 10 blog post from Janco CEO Victor Janulaitis. IT unemployment stands at 4.7%, higher than the overall national rate.
"With that data, a report that 129,000 IT pros are unemployed and an unemployment rate for IT pros at 4.7%, we believe a recession has started in the IT sector of the economy," Mr. Janulaitis wrote.
Several health systems have shed or outsourced IT staffers of late, including Oakland, Calif.-based Kaiser Permanente in May, its second round of IT layoffs in six months.