Tech Employment Snapshot - Q1 2013

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According to the NBER, the previous recession to the Great Recession ended in November 2001. In the fourth quarter of 2001, 494,000 professionals on average quit their job each month. In this recovery, there hasn’t been a single quarter that cracked 400,000 – let alone approached 500,000.

According to the BLS, “the quits rate can serve as a measure of workers’ willingness or ability to leave jobs.” Despite the good market in technology recruiting, shaky confidence in the job market is somewhat justified.

The number of layoffs and discharges averaged 386,500 for employees in professional and business services in the first two months of this year. Having more layoffs and discharges than voluntary quits is the job market we have, not the job market anyone wants.

According to Dice, reporting on numbers from the Bureau of Labor Statistics, the unemployment rate for tech professionals continues to remain low (3.5 percent) compared to the national average (7.7 percent). Despite a lower than national average rate, however, the number of tech professional voluntarily choosing to quit their positions (380,000 - average for first two months of Q1) is still running under the 10-year monthly average of 402,000. Additionally, the number of layoffs and discharges averaged 386,500 for the first two months. Having more layoffs and discharges than voluntary quits is the job market we have, not the job market anyone wants.

 

Related Topics : A Big Market for Big Data Jobs, Midmarket CIO, IT Management Automation, SharePoint, Technology Markets

 
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