Tech unemployment rate edges down slightly to 2%
DOWNERS GROVE, Ill. – Tech jobs throughout the economy grew, while hiring by technology companies took a small step back in May, according to analysis by CompTIA, the nonprofit association for the information technology (IT) industry and workforce.
Tech sector companies reduced headcount by a modest 4,725 jobs last month, representing less than fraction of a percent (0.1%) of the industry’s total workforce, CompTIA’s analysis of U.S. Bureau of Labor Statistics #JobsReport data reveals. Among the six top level tech sector occupation categories three show positive gains for the year, led by IT services and custom software development (+10,200 year-to-date), the cloud infrastructure, data processing and hosting category (+2,300) and tech manufacturing (+1,100).
Tech occupations across the economy increased by 45,000 jobs. The unemployment rate for tech occupations decreased slightly from 2.1% to 2.0% and remains well below the national figure of 3.7%.
“Reassuringly the positives for the month outweigh the negatives, confirming the tech workforce remains on solid footing,” said Tim Herbert, chief research officer, CompTIA.
Employer job postings for future tech hiring eased last month but still totaled nearly 234,000. Top positions companies are looking to hire include software developers and engineers, IT project managers, data analysts and IT support specialists. About one in five job postings are for positions in emerging technologies or in jobs that require emerging tech skills, including nearly 15,000 openings involved with artificial intelligence.
New York City, Washington, Dallas, Chicago and Los Angeles led metropolitan markets in the highest volumes of tech job postings. Atlanta, Austin, St. Louis, San Jose and Phoenix recorded the largest month-over-month increases in tech job postings. Among the states, New Jersey, Vermont, Kansas, Georgia and Arizona saw the biggest increases.
The “CompTIA Tech Jobs Report” is available at https://www.comptia.org/content/tech-jobs-report.
The Computing Technology Industry Association (CompTIA) is the world’s leading information technology (IT) certification and training body. CompTIA is a mission-driven organization committed to unlocking the potential of every student, career changer or professional seeking to begin or advance in a technology career. Each year CompTIA, directly and through its global network of partners, provides millions of people with training, education and certification. To learn more visit https://www.comptia.org/
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$2 trillion – Estimated direct economic impact of the U.S. tech industry, representing 8.8% of the national economy.
582,000 – Number of tech business establishments in the U.S.
9.1 million – U.S. net tech employment at the end of 2022.
286,400 – Estimated number of new technology jobs added in the U.S. in 2022.
4.1 million – Number of postings by U.S. employers for tech job openings during 2022.