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.