IT unemployment rate hits five-year high

Okay, you already know it's a dry spell, even for technology. The IT unemployment rate last quarter rose to 4.1 percent, according to an analysis of Bureau of Labor Statistics data by the Information Security Media Group. That's significantly lower than the overall national average of 9.5 percent, but it's hardly any comfort to those out on the street.

The annualized IT unemployment rate stood at 3.2 percent in the first quarter and 2.3 percent in the second quarter of 2008, to give you an idea about how far up the IT unemployment rate is moving.

The federal government provides monthly national unemployment rates, but doesn't break it down by individual occupations. Nevertheless, it's considerable comfort that it's lower than so many other professions. Consider where you would be if you were in the auto industry or any part of the financial industry.

There is still some good news out there. Companies cannot afford to lay off the entire IT-related staff. And managers have to find a way to do more with less. Nevertheless, the IT executive on your staff has to be the most important person  in your office, at least for keeping the operation running efficiently and seamlessly.

For more on IT unemployment:
- check out this GovInfoSecurity.com article

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