The number of IT jobs in the US fell by 6,200 in November to a total of approximately 5.3 million in what’s turning out to be a peculiar market, according to an analysis by TechServe Alliance. Looking at the change in IT employment on a year-over-year basis, the number of jobs fell by 99,000.

“While the market for IT professionals is expansive, heterogeneous and not easily captured by a single narrative, it is fair to say we have not yet seen a return of robust demand,” Mark Roberts, CEO of TechServe Alliance, said in a press statement.

“While the economy remains strong by most measures, the Fed’s restrictive interest rate policies are clearly having an effect on labor markets,” Roberts said. “Despite softer demand, the availability of tech talent remains constrained in high-demand skill sets, such as those related to AI, analytics and security.”

On the flip side, the available of talent remains constrained in high-demand skill sets — such as AI, analytics and security — despite the overall softer demand.

“With softer demand coexisting with an IT unemployment rate of only 1.94% (Q3), it continues to be a peculiar and unusual market,” Roberts said.

The TechServe Alliance also reported on engineering employment, which increased by 7,600 jobs in November compared to October for a total of approximately 2.8 million. Year over year, the number of engineering jobs was up by 50,600.

 The TechServe Alliance is a trade association representing the IT and engineering staffing and solutions industry.