IT staffing segment revenue up, labor market loosens (IT Staffing Report)

IT staffing segment revenue rose a median 9% year over year in October, writes SIA Senior Research Analyst Curtis Starkey in the IT Staffing Report newsletter. In addition, trends in the sector show that the labor market has loosened significantly since 2021. Large-scale layoffs at big tech companies do not necessarily correlate with recruiting difficulty, but as laid-off talent shifts to new roles, there could be a spillover effect into staffing, making recruiting easier than it was prior to the layoffs.