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ZDNET's key takeaways
Tech job volume has been shrinking over the past three years.
Large tech vendors are shedding jobs, but demand is high among small businesses.
Skills with a solid future: AI, creativity, and business acumen.
The dour news keeps coming. A new analysis of US Bureau of Labor Statistics (BLS) data shows the IT job market is shrinking. However, one needs to look beyond the traditional IT field to see where opportunities are blossoming.
First, let's get the bad news out of the way: The current IT unemployment rate is 4.5%, according to a recent report from Janco, which estimates there are at least 118,000 unemployed IT professionals at this time. In the last 24 months, the IT job market has shrunk by over 179,000 jobs, the consultancy said. The IT job market shrank by 131,200 in the last 13 months and by over 179,000 in the last 24 months. Also, this is the third year in a row of shrinkage.
Also: Jobs for young developers are dwindling, thanks to AI
According to the latest revised BLS data, the IT job market shrank by 9,600 jobs year to date. At the same time, the BLS reports there are more than 200,000 open IT positions.
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