June was a solid month for IT sector job growth, but overall progress remains relatively slow as the industry copes with Brexit and prepares for the presidential election, according to The Wall Street Journal.
Here are five things to know about the current job outlook in the world of IT, according to Janco Associates' analysis of Bureau of Labor Statistics data.
1. The U.S. added 34,200 IT positions in June. In May, however, 19,400 IT jobs in the U.S. were lost.
2. This year's June job additions are greater than last June's. Comparing last June to this June, there was a 402.9 percent increase in the number of IT jobs added. The industry added 34,200 positions in June 2016, and it only added 6,800 in June last year.
3. However, year-to-date, the number of created jobs has decreased 33 percent. At this time last year, 69,400 IT jobs had been formed since January. Currently, only 46,500 IT positions have been created since January.
4. IT compensation has increased 0.6 percent since last year. According to a Janco Associates survey, average annual compensation for an IT professional position is $82,775 this year. In 2015, average annual compensation was $82,246.
5. Janco Associates estimates there will be a decline in the IT job market. Janco projects a total of 76,500 IT jobs will be created by the end of 2016, compared to the 112,500 added in 2015.