IT Employment On The Rise
In November 2008 IT employment reached 4 million, just two months after bankruptcy was declared by Lehman Brothers and Hewlett-Packard announced their plan to lay off 25,000 workers. After this milestone however, the economy began to rapidly worsen and layoffs were increasing. By mid-2009, almost 200,000 IT jobs disappeared. The numerous layoffs hit mainly the older IT workers, especially women above 55 who had an unemployment rate of 9.5%.
After three hard years, the IT employment rate is again on the rise and is even surpassing the November 2008 record of 4 million. It has continued to increase for 16 straight months and is presently at 4,009,000 jobs.
Unfortunately for Hewlett-Packard, it is being hit hard by slumping PC sales and is down 5% in its personal systems group. Their net profit on revenue is growing however, so hopefully this will promote strong growth in the future.
article posted by
Cameron Ballard
article posted by
Staff Editor
Become a member to take advantage of more features, like commenting and voting.
Register or sign in today!