Tech industry job gains offset by slowdowns in other tech hiring measures, CompTIA analysis shows

The industry adds 7,500 net new jobs, but unemployment in tech occupations rises

DOWNERS GROVE, Ill. , July 5, 2024 /PRNewswire/ — Technology industry job growth in June was offset by slowdowns in other key employment metrics, analysis by THE COMPANYnon-profit association for the information technology (IT) industry and workforce.

Technology services and software development occupations continue to lead new hires.

The technology industry added about 7,540 net new workers in June, the largest monthly increase in 2024, CompTIA’s analysis of the US Bureau of Labor Statistics’ (BLS) #JobsReport data finds.1

Technology services and software development occupations continue to lead new hires, a positive sign for the small and medium segment of the sector. The total employment base in the US technology industry is approximately 5.6 million workers.

This positive result was countered by the loss of 22,000 technology occupations across the economy.2 The tech unemployment rate experienced a surprise increase to 3.7%, moving in line with the increase in the national unemployment rate for the month.

“Despite pockets of growth, recent data shows a degree of downward pressure on technology employment,” said Tim Herbert, chief research officer, CompTIA. “A combination of factors, including AI FOMO, is likely contributing to segments of employers taking a wait-and-see approach to technology hiring.”

New employer job postings for technology positions totaled about 200,000 in June, down slightly from month-over-month. In total there were more than 444,600 active tech job postings for the month and 2.5 million for the year.3

Among major metropolitan markets, San Francisco and Denver posted healthy gains in the number of job postings from May to June. Open positions in San Francisco totaled 6,110, an increase of 1,077 from May. In Denver, tech job postings increased by 424 to 3,684. Most other metro markets saw modest declines. California, Texas and Virginia had the highest volumes of June tech job postings among states.

The report shows that 46% of all active tech job postings in June did not specify that candidates have a four-year degree. The percentage was higher for several key technology positions, including network support specialists (90%), IT support specialists (73%), network and systems administrators (54%), network architects (50% ) and database administrators (50%).

The “CompTIA Technical Works Report” is available at https://www.comptia.org/content/tech-jobs-report.

About CompTIA
The Computer Technology Industry Association (CompTIA) is a leading voice and advocate for the $5 trillion global information technology ecosystem; and approximately 75 million industry and technology professionals who design, implement, manage and protect the technology that powers the world economy. Through community, education, training, certification, advocacy, philanthropy and market research, CompTIA is the center for unlocking the potential of the technology industry and its workforce. http://Connect.CompTIA.org

1 Labor market data from the US Bureau of Labor Statistics and employer postings from Lightcast may be subject to backward revisions.
2 Monthly occupation-level data from the US Bureau of Labor Statistics tend to experience higher levels of variance and volatility.
3 Active job postings include open postings carried over from previous months and new postings added by employers. View original content to download multimedia: https://www.prnewswire.com/news-releases/tech-industry-job-gains-offset-by-slowdowns-in-other-tech-employment-measures-comptia-analysis- shows -302190148.html