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IT Unemployment Level Hits 3-Year Low

By Steven Salkin, Esq., Managing Editor
January 26, 2005

According to statistics from the Bureau of Labor Statistics (BLS), information technology professionals shouldn't be home watching “Ellen.” With an unemployment rate of 4.3% in 2004, the IT sector has a lower rate than the general population, which had 5.5% unemployed last year. That itself is down from 6% in 2003; but the IT-specific rate is the lowest since 2001's 3.7%. (The 2001 figure should have an asterisk added ' remember Y2K?)

While the overall number of IT workers fell slightly (down 39,000 to 3.48 million), the number of IT professional employed actually increased by 400,000 in 2004 from 2003. And despite the call for an asterisk to the 2001 figures, statistics show that the overall IT workforce is actually 2.3% larger now than it was in 2000. Information Week says that the statistics mean that while fewer people are entering ' or remaining in ' the IT workforce, those that enter or remain are having an easier time finding work and staying employed than not only previous years in the IT sector, but also than the general working population.

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