August 01, 2013, 11:06 AM — Good news for IT professionals: The job market continues to grow exponentially.
Bad news for hiring companies: Fewer college students are graduating with IT degrees.
A new survey from CareerBuilder finds the number of students graduating with IT degrees dropping 11% over the past decade while the overabundance of jobs continues to grow - up 13% over the same period.
If the job market is booming, why aren't college students flocking to IT degrees?
CareerBuilder CEO Matt Ferguson says the dot-com bubble collapse is certainly one factor.
Another is the "more recent trends of tech workers being trained by employers or trained through informal programs outside of a traditional academic setting,” he notes.
“The deficit in IT degree completions is concerning when you consider that there is already a considerable gap between the demand for and supply of IT labor in the U.S. today. Degrees in health professions, engineering, business, liberal arts and education are growing rapidly and we need IT degrees to keep pace.”
Another interesting statistic, check out the cities with the largest drop in IT grads:
- San Francisco -55%
- New York City -52%
- Atlanta -33%
However, what was bad news for the above areas was good news for those below, which saw an increase in IT grads moving in:
- Salt Lake City +117%
- Washington, D.C. +31%
- Minneapolis-St. Paul +14%
Well, at least it looks as if we know where the better cost-of-living scenarios lie.