During his annual State of the Union address, President Obama noted that “Growing industries in science and technology have twice as many openings as we have workers who can do the job.” Bringing this information in front of a national audience emphasizes the immediate importance of finding qualified candidates to fill specialized technology based positions. The high discrepancy between job openings and qualified candidates puts added pressure on companies to quickly seek out, qualify, and hire candidates before their competition can do so.
Specifically, the information technology industry has shown to be one of the most stable and rapidly expanding industries in the American economy. The 3.3% employment spike the IT industry experienced in 2011 was more than triple the 1% experienced by the US economy as a whole, and forecasts project the growth to continue this year. The 10.3% estimated growth of the IT industry in 2012 will equal out to even more open positions for job seekers, and will require companies to upgrade their own IT departments with more qualified and specialized employees.
The expected future growth of the IT industry will require companies to constantly research and implement new and innovative technologies into their everyday business practices. Seeking out and hiring qualified individuals to implement these new technologies will be made more difficult due to the limited candidate pool of qualified individuals. The lack of qualified candidates may lead to added competition during the hiring process, and will require companies to quickly identify and address all technology related needs.
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