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In spite of both actual and perceived economic weakness, the U.S. technology jobs market has consistently outperformed expectations

BusinessIn spite of both actual and perceived economic weakness, the U.S. technology jobs market has consistently outperformed expectations

According to an analysis conducted by CompTIA, a nonprofit association for the information technology (IT) industry and workforce, the technology jobs market continued its run of gains, which contributed to the unexpectedly strong Jobs Report for the month. Contributing to the unexpectedly strong Jobs Report for the month was the technology jobs market.

According to an analysis conducted by CompTIA on data provided by the United States Bureau of Labor Statistics (BLS), the number of jobs held in technical professions rose by an estimated 239,000 for the month of July. In the month of July, the unemployment rate for technical jobs was 1.7 percent.

Employment at the industrial level within the technology sector increased by a net of 12,700 people, marking the 20th consecutive month of employment growth. This year alone, the information technology sector has added 143,700 new positions, which represents a year-over-year gain of 55 percent.

In July, employers posted over 484,000 job openings for technology roles, which was a tiny reduction from the previous month but was still close to the all-time high for this indicator. There were roughly 3.1 million job advertisements for technical positions made available by US corporations during the first seven months of 2022. This represents a rise of nearly 49 percent compared to the same time period in the previous year.

According to Tim Herbert, chief research officer of CompTIA, “the IT employment market has regularly succeeded in the face of actual and perceived economic downturn.” “The data demonstrates that for every layoff announcement, there are other organisations stepping in to take advantage of IT talent hiring opportunities.”

When looked at more closely, the data on technological job postings from the month of July reveals that there are employment opportunities available at all levels of expertise, in a wide range of occupational categories, and in practically every metropolitan market and state throughout the US.

One out of every five job listings in the IT industry was for a position that required two years of experience or less. Approximately half of the jobs required applicants to have between three and five years of experience, while the other one in ten required applicants to have nine or more years of experience.

There were approximately 148,000 job posts for software developers and engineers in the last month alone. Employers are eager to fill vacancies in this field more than any other. Additionally, the employment market is robust for information technology support experts, information technology project managers, information technology systems engineers and architects, and information technology network engineers and architects. One third of all job openings that were posted in July were for positions in emerging technologies or occupations that required skills related to emerging technologies.

The metropolitan areas of New York City, Los Angeles, and San Francisco had the greatest growth in the number of technology-related job ads from one month to the next. However, this list also contains several markets that are “under the radar.”

In the information technology industry during the month of July, job growth was seen in three different occupational categories: other information services, including search engines (+6,800), data processing, hosting, and related services (+4,100), and computer and electronic product manufacturing (+3,300). Employment opportunities in the field of information technology services and bespoke software development were unchanged, whilst those in the field of telecommunications decreased (-1,400).

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