The U.S. economy gained or regained just 199,000 jobs in December, down from 249,000 in November, , marking the smallest monthly jobs gain in a year.
The slowdown in hiring includes the otherwise high-paying, red-hot information technology industry.
Alexandria, Virginia-based trade group reports the IT sector added just 2,000 jobs in December, little changed from the previous month. On a year-over-year basis, IT employment was up 2.72%, a growth of 142,800 professionals.
The IT sector ended 2021 with 5.39 million Americans working in the field.
鈥淲e expect a continued slowdown in hiring with a flat employment growth rate in the IT and engineering sectors for some time to come,鈥� said Mark Roberts, CEO of TechServe Alliance, the national trade association of the IT and Engineering staffing and solutions industry.
鈥淲ith the tech unemployment rate dropping to 2%, it is clear the slowdown is more a function of companies struggling to find qualified talent, rather than a lack of demand,鈥� he said.
TechsServe recommends its members revisit compensation and benefits to make sure they are competitive, work with recruiters to adopt location-no-bar hiring policies, and update technology to increase a smooth remote work environment.
Below is a graph of TechServe Alliance鈥檚 IT Employment Index and Engineering Employment Index, dating back to late 2019:
