The IT job market faced a second year of decline in 2024, according to Janco Associates. While the contraction was less severe than in 2023, automation fueled by artificial intelligence continues to be a major factor in job losses.
The IT job market experienced a second consecutive year of decline in 2024, according to tech consultancy Janco Associates, although the contraction was less severe compared to 2023. The report, released on Friday, highlights an ongoing downward trend in the industry. While 22,300 jobs were lost in 2024, a significant 48,600 positions were eliminated in 2023. Last year, Janco attributed the job losses primarily to layoffs and the impact of artificial intelligence (AI).
Layoffs, although still a factor in 2024 (with 152,664 tech sector professionals losing their jobs compared to 264,220 in 2023), have become less prominent. However, AI continues to pose a significant challenge. Victor Janulaitis, the CEO of Janco Associates, stated, 'With all the new advances in technology, many jobs have been eliminated or automated out of existence.' He pointed out that tasks like monitoring system status, key performance indicators (KPIs), and service-level agreements (SLAs) are now largely automated. When exceptions arise, alerts are sent via email or text, eliminating the need for numerous IT personnel to perform these tasks manually.Consequently, numerous entry-level IT jobs have been replaced by automation. Janulaitis added, 'No longer are IT organizations populated with secretaries, data-entry operators, administrative monitoring clerks, and a massive help desk staff.' Instead, the demand has shifted towards roles such as data architects, AI developers, e-commerce specialists, and other positions requiring expertise in emerging technologies. Janco reported that companies are actively seeking individuals with AI skills, developers familiar with new technologies, and professionals specializing in internet processing and security. Notably, most hiring is occurring in small to mid-size enterprises rather than larger tech companies, which have greater resources to invest in automation. The report also noted that the tech unemployment rate, according to CompTIA, has dropped to its lowest point since November 2023, at just 2 percent, while the national unemployment rate across all sectors remains steady at 4.1 percent.
IT Job Market Automation Artificial Intelligence Tech Unemployment Job Losses
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