New Tech Hiring Data Signals Technology's Broad Impact On The Economy And Employment, CompTIA Analysis Reveals
Job posting activity at a record high as tech companies add workers for the 18th straight month
Downers Grove, IL Employer hiring activity for technology positions as measured by job postings remain at record levels and technology companies added workers for the 18th straight month, according to analysis by CompTIA, the nonprofit association for the information technology (IT) industry and workforce.
CompTIA’s analysis of today’s “#JobsReport” from the U.S. Bureau of Labor Statistics (BLS) shows that at the technology industry level companies added 22,800 net new workers in May. Through the first five months of 2022 employment has increased by 106,700 positions and is tracking 69% ahead of the same period versus 2021.
Employer hiring activity as measured by job postings for tech positions totaled 623,627 for the month and nearly 2.2 million year-to-date. This represents a 52% increase versus the same period of the previous year.
“The data speaks to the broad-based nature of the tech workforce,” said Tim Herbert, chief research officer at CompTIA. “It also speaks to the many factors affecting employment and situations where sectors or companies easing up on hiring may be offset by sectors or companies increasing hiring.”
Tech occupations throughout the economy increased by a modest 2,000 positions in May. The unemployment rate for tech occupations edged up to 2.1%, compared to the overall national unemployment rate of 3.6%.
Positions for software developers and engineers (204,084) accounted for nearly a third of all employer tech job postings in May, an increase of more than 77,000 from April. Increases in hiring activity for IT project managers, IT support specialists, systems engineers and architects and network engineers and architects were also reported. One-third of all postings were for positions in emerging technologies or jobs requiring emerging tech skills.
Employer hiring intent was strong across several industries, including professional, scientific and technical services, finance and insurance, manufacturing, information, retail trade, health care and social assistance, public administration and educational services. The search for tech talent was widely dispersed across geographies, as well. Four metro areas (New York City, Dallas, Los Angeles and Washington) recorded tech jobs postings totals that surpassed 31,000 positions.
Hiring in the IT services and custom software development category (+13,100 new positions) led May’s tech sector job growth. Data processing, hosting and related services, computer and electronic products manufacturing and other information services, including search engines were also in positive territory, while jobs in telecommunications declined.
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.
The Computing Technology Industry Association (CompTIA) is a leading voice and advocate for the $5T global information technology ecosystem; and the estimated 75 million industry and tech professionals who design, implement, manage, and safeguard the technology that powers the world’s economy. Through education, training, certifications, advocacy, philanthropy, and market research, CompTIA is the hub for unlocking the potential of the tech industry and its workforce. For more information, vist https://www.comptia.org/.