Robust tech job market, unemployment rate at historic low

Despite some high-profile hiring pauses and layoffs in tech sectors, including the cryptocurrency market, the tech job market remains strong as demand for IT professionals is still hot.

A CompTIA analysis of data from the U.S. Bureau of Labor Statistics found that technology occupations across all industry sectors increased by nearly 240,000 positions in July, and employment in the computer industry jumped by 143,700 jobs this year, a 55% year-over-year increase. . The analysis also found that the unemployment rate for tech jobs fell to 1.7%.

Among the most in-demand roles are software developers and engineers, followed by IT support specialists, IT project managers, systems engineers and architects, and network engineers and architects.

Job opportunities can be found at all levels of experience, in a variety of occupational categories, and in nearly every market and metropolitan state across the country, indicating that despite talk of economic headwinds, technology still have an extraordinarily strong market to tap into.

Major metropolitan areas, including New York, Los Angeles and San Francisco, saw the largest month-over-month increase in job postings; however, many small towns – from Topeka, Kansas, to Rochester, New York, also saw notable increases.

Computer literacy is in demand

Matthew Warner, CTO and co-founder of Blumira, points out that during the last recession, a sizeable number of IT personnel were laid off from organizations as they migrated to managed service providers to provide support.

“However, over the past 10 years there has been an expansion of responsibilities and needs for internal IT staff, augmented by MSP support staff,” he said. “While there may be some downsizing in some organizations for IT, there will be open jobs available for anyone who is smart and knows their technology.”

He added that computer literacy and the ability to solve complex problems are needed more than ever as data proliferates within organizations.

“While entry level is still in the minority in vacancies, candidates who have multiple years of experience are needed more than ever to meet the needs without additional or unnecessary oversight to maintain effective organizations,” Warner said. .

The Benefits of Nurturing Local Talent

Jonathan Webster, CTO of cybersecurity firm CybSafe, said in this tech job market, local talent development can offer small organizations a path forward to meet their IT talent needs and improve company culture. at the same time.

“We have a supply and demand problem,” he said. “If you’re not hiring and developing junior talent, you’re not helping people have great careers and you’re not helping the intense tech skills shortage.”

To that end, CybSafe has worked to help remove barriers to entry into technology, including supporting organizations such as Code First Girls and Coding Black Females.

“We are very interested in how we can support, encourage the use of our business to donate charitable time that everyone is entitled to,” he said. “The team does everything from helping people get into tech to going into elementary schools and telling young kids that software engineering is a role for everyone.”

CybSafe also revised job postings and descriptions, removing years of experience requirements or special academic achievements, Webster said.

“We’re designing the interview process to be as close to a real CybSafe experience as possible, so if you like the challenge and can do it, you’re a good fit for us,” he said. he declares.

Despite the strong tech job market and overall optimistic outlook for the future of tech professionals, Webster warns that external pressures on the economy are a concern, noting that “inflation is real” and will affect people , although he said he believes professions like software engineering are somewhat isolated.

“A bigger fear – speaking among engineering friends – is that they are much more worried about the stability of their business, with many tech companies struggling right now with the hit to valuations and the withdrawal of funding,” said he declared.

Big data, data warehousing and related efforts are among the emerging areas of expertise that tech professionals should be aware of, Webster said.

“Additionally, the need to expand cloud security and remote infrastructure continues to be necessary as post-COVID life means more remote working and connectivity,” he said.

Although there may be some bumps in the road, IT and technical jobs will continue to grow, according to Webster.

“Like now, there won’t be enough people to fill those vacancies, and there will always be openings for smart IT people,” he said.

About the Author

Nathan Eddy in the headNathan Eddy is a freelance writer for ITPro Today. He has written for Popular Mechanics, Sales & Marketing Management Magazine, FierceMarkets, and CRN, among others. In 2012, he directed his first documentary film, The Absent Column. He currently lives in Berlin.

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