Most of this is a cross-post of my answer from the MSO threadmy answer from the MSO thread, since I'm not sure if the OP read the MSO post...spoiler alert, though: it's not much different from what Shog said.
The job board will continue to have both programming and sys admin jobs. What's changing is that the job-seeker experience of the job board will not live on a separate site requiring an entirely different account; it will live on Stack Overflow instead. (Employers will continue to use careers.stackoverflow.com to post job listings, manage applications, send messages, etc.) We've recently done a lot of work to simplify and streamline creating and logging into multiple Stack Exchange sites. While this may not be ideal for Server Fault users who don't use Stack Overflow today, it should be a great deal less painful to use a Stack Overflow account for jobs-related activities than it has been to create and maintain your CV on a totally separate Careers account.
There has never been a dedicated job board for sys admins; careers.serverfault.com simply redirects to careers.stackoverflow.com. We're not introducing a sys-admin-only job board, but we're not taking anything away that currently exists, either.
We can definitely do more to make the experience better for Server Fault users, but right now, we don't have plans to add a Jobs tab to sites other than Stack Overflow. There's still a lot of work to be done behind the scenes to complete this integration, and it makes sense to iron it all out on one site first. I can't say that we'll definitely add a Jobs tab to other sites at any point, but I can tell you that we're definitely not getting rid of sys admin jobs as part of our job board offering. Moving the job board to Stack Overflow should only change things for the better: closer integration between Q&A and job-related activities will benefit job seekers by making it easier for Q&A users to log in and create CVs, and the extra exposure from living on Stack Overflow should help even more employers know that we can help them hire technical staff, including sys admins.
We aren't changing the way targeting works, either. If an employer tells us their job listing is for a sys admin, it gets advertised on Server Fault. If they don't, we assume it's a developer job and advertise it on Stack Overflow. That's the way it's always worked, and that's the way it will continue to operate. Sys admin jobs are a small part of the jobs that are on our job board, and yes, that sucks. However, I don't expect sys admin jobs to ever be at parity with developer jobs; they just aren't as numerous.
In summary...
Sys admin jobs are still entirely appropriate and encouraged on our job board, and we will continue to advertise sys admin jobs on Server Fault.
The only thing that's changing is that the job board will live on Stack Overflow rather than an entirely separate site.