U.S. Tech Unemployment Rate Hits Record Low
According to CompTIA and the U.S. Bureau of Labor Statistics, the unemployment rate for technology occupations in the United States fell to a 20-year low of 1.3 percent in May as the tech sector adds 5,800 new jobs and IT occupations across economy increase by 133,000.
At 1.3 percent, tech unemployment is at its lowest since January 2000, the earliest available detailed occupation-level data from the BLS.
“The data confirms what employers have been saying for months and even years – the demand for tech talent has reached historic levels,” said Tim Herbert, executive vice president for research and market intelligence at CompTIA.
“There is now the very real prospect of tech worker shortages affecting industry growth,” Herbert added. “Firms seeking to expand into new areas such as the Internet of Things, robotic process automation or artificial intelligence may be inhibited by a lack of workers with these advanced skills, not to mention shortages in the complementary areas of technology infrastructure and cybersecurity.”
IT occupations across the entire U.S. economy increased by an estimated 133,000 jobs. Within the tech sector, new hiring in technology services, custom software development and computer systems design paced job growth, expanding by an estimated 8,400 new hires.
Software and application developers continue to be the most in-demand occupation companies are looking to hire, with 89,900 job postings last month. Other tech jobs companies were looking to fill included computer user support specialists (25,000), computer systems engineers and architects (22,100), computer systems analysts (20,100) and information technology project managers (17,600).
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