Employment growth paced by gains in tech services, software and manufacturing categories
The U.S. information technology (IT) sector added an estimated 9,600 new jobs in June, extending its current streak of employment gains to five consecutive months, CompTIA, the leading technology industry association, reported recently.
For the year, IT sector employment has increased by an estimated 48,900, according to CompTIA’s analysis of the latest Bureau of Labor Statistics “Employment Situation” report.
Today’s report includes some contradictory signals in IT employment. While the IT sector added jobs, IT employment across all sectors of the economy was down 90,000 jobs.
“Despite the mixed bag of results in the tech labor market over the past several months, demand for tech talent remains strong,” said Tim Herbert, senior vice president for research and market intelligence at CompTIA. “There will always be a degree of volatility in BLS data from month-to-month. Over the long-term, we expect the growth trajectory to continue.”
CompTIA’s analysis finds that June job growth occurred in four categories:
Telecommunications employment decline by 3,200 positions in June. This category has shrunk by some 18,200 jobs so far this year; and has shed an estimated 30,700 jobs over the past 12 months.
“This reflects the ongoing dynamic of telecom companies pursuing growth in new areas such as the Internet of Things, 5G and IT services, while contending with the maturing technologies and business models of the past,” Herbert said.
Across the entire economy, total nonfarm payroll employment increased by 213,000 in June, and has grown by 2.4 million over the last 12 months. The national unemployment rate inched up slightly to 4 percent. The unemployment rate for IT occupations followed suit, increasing to 1.9 percent, which remains one of the lowest rates across all occupation categories.
The complete CompTIA IT Employment Tracker report is available at https://www.slideshare.net/comptia/comptia-it-employment-tracker-july-2018.
CompTIA publishes research on tech industry employment, skills and workforce trends throughout the year, including Cyberstates 2018, the definitive annual analysis of the nation’s tech industry. To learn more, visit http://cyberstates.org/ and https://www.comptia.org/insight-tools/business?tags=it%20workforce.
The Computing Technology Industry Association (CompTIA) is a leading voice and advocate for the $1.5T U.S. information technology ecosystem; and the 11.5 million technology and business professionals who design, implement, manage, market, and safeguard the technology that powers the U.S. economy. Through education, training, certifications, advocacy, philanthropy, and market research, CompTIA is the hub for advancing the tech industry and its workforce. For more information, visit www.comptia.org.