"Given all the turmoil in the economy and the devastating job losses in the general employment market in recent months, we are relieved that the decline in October was a modest one," Mark Roberts, NACCB's CEO, said in a statement. "While the long-term growth prospects of IT employment remain very strong, I anticipate there will be significant challenges in the short-term and midterm in light of the deteriorating macroeconomic picture."
Roberts noted that IT employment was still up 4.5% in October compared with October 2007. The overall employment market shed an alarming 284,000 jobs in September and 240,000 in October.
The NACCB bases its IT employment figures on U.S. Bureau of Labor Statistics data, which is presented monthly. In addition, the NACCB studies staffing patterns in a dozen IT and computer-related job positions in various industries that employ significant numbers of IT workers.
In September, Robert Half Technology said its studies of the IT employment market showed that the early wave of national job losses hadn't hit the financial services market as of that month. However, John Estes, VP of strategic alliances at Robert Half, predicted that many high-quality IT people eventually will lose their jobs as the impact on financial services firms spreads through Wall Street and beyond.