Tech Employment Continues To Defy Expectations, Remaining On Growth Path
Technology-related employment continues to defy expectations of cutbacks, hiring freezes and layoffs, according to the latest “Tech Jobs Report” released by CompTIA, the nonprofit association for the technology industry and workforce, reveals.
CompTIA’s analysis of the U.S. Bureau of Labor Statistics #JobsReport reveals that tech sector companies added a net 4,800 workers, extending the job gains streak to 22 consecutive months. Year-to-date tech industry employment is tracking 22% ahead of 2021. Companies across the economy added an estimated 84,000 tech workers for the month. [1]
“Despite the prevailing sentiment of a slowing economy, the gains in tech employment say otherwise,” said Tim Herbert, chief research officer at CompTIA. “We can infer from the data that aggregate demand for tech talent remains strong enough to offset any pockets of weakness.”
The tech unemployment rate edged down slightly to 2.1% signaling a still very tight labor market. Employer job postings for technology positions totaled 302,370 for the month, a decrease of -12% versus the previous month.
The employer job posting data again confirms the expansive footprint of technology across the economy, with hiring activity spanning every sector, including professional, scientific and technical services (46,263), finance and insurance (39,619) and manufacturing (38,386).
Hiring activity remains widely dispersed on a geographic basis, as well. As expected, the metro markets of New York City (19,993), Washington (16,985), Dallas (12,279), Chicago (10,941) and Los Angeles (10,848) has the largest totals of tech jobs postings. But markets such as Wichita (KS), Little Rock (AR), Lansing (MI), and Dover (DE) saw notable jumps in postings from August to September, reflecting the ongoing shifts in remote work.
The “CompTIA Tech Jobs Report” is available at https://www.comptia.org/content/tech-jobs-report. For more analysis and perspective, visit the CompTIA Tech Job Report video series at https://www.youtube.com/playlist?list=PLuqIJd7KnBU_nZd2oXEwa0I5X7Vt124eM.
[1] Monthly occupation-level data from the U.S. Bureau of Labor Statistics tends to experience higher levels of variance and volatility. Labor market data from the BLS and employer job posting data from Lightcast may be subject to backward revisions.
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