In January 2024, the technology sector witnessed notable growth, adding nearly 18,000 jobs and experiencing a significant increase in employer job postings for open positions. This positive development, as analyzed by CompTIA from the U.S. Bureau of Labor Statistics (BLS) data, marks the second consecutive month of employment growth within the tech industry. The increase was observed across various sub-sectors, with technology services and software development leading the way, followed by gains in cloud infrastructure and tech manufacturing, particularly in semiconductors.
Despite the overall growth in tech industry employment, technology occupations across the broader economy saw a decrease. However, the tech occupation unemployment rate remained steady at 2.3%, indicating resilience amidst fluctuations. The significant rise in job postings, especially in areas like software development, IT project management, and data analysis, underscores the ongoing demand for skilled tech professionals. Noteworthy is the increase in job postings requiring artificial intelligence skills and the resurgence of hybrid and remote work options.
Why it matters: The latest figures from highlight the dynamic nature of the tech workforce, showcasing areas of both growth and contraction within the industry. This balance reflects the ongoing adjustments companies make to align with short-term and long-term staffing needs. The growth in tech employment and job postings is a strong indicator of the sector’s vitality and its critical role in the economy. It points to the increasing demand for tech skills and the opportunities available for professionals in the field.
- Broad Sector Growth: The addition of nearly 18,000 tech jobs in January, led by gains in technology services, software development, cloud infrastructure, and semiconductor manufacturing, signifies robust sector health and a strong start to the year.
- Unchanged Unemployment Rate: Despite a decline in technology occupations across the economy, the tech sector’s unemployment rate remains low at 2.3%, underscoring the industry’s resilience and the high demand for skilled tech workers.
- Surge in Job Postings: A significant rebound in job postings, with nearly 178,000 new listings in January alone, highlights the sector’s recovery and the wide array of opportunities for tech professionals across software development, IT project management, and more.
- Rising Demand for AI Skills: The increase in job postings requiring AI skills and the growth in remote work options reflect evolving industry trends and the shifting priorities of employers and employees alike.
