Tech employment saw only a tiny dip from August to September according to recent reports. This is another data point in a trend of stability across the sector. Over the past year, the month to month numbers have seen slight ticks both upward and downward while the overall picture shows a sector begging for the talent to grow. This is supported by the year-over-year data that shows the technology sector growing by a mere 0.01%, netting only 500 jobs over the span. Things were slightly more robust in the engineering sector which saw a 3.2% increase over September 2021, adding 97,900 jobs in that span.
With white hot demand, the domestic talent pool is locked up in both the technology and engineering sectors. This has led to employers exploring their options abroad, as explained by TechServe Alliance CEO Mark Roberts – “While IT employment dipped modestly in September, when we step back and look at multiple data points it is clear we are in a no-growth environment due to the lack of available talent. In addition to adding only 500 net new IT jobs (reflecting a mere 1/100 of one percent increase) and an IT unemployment rate of only 2.3% in Q3, there were almost 500,000 registrations in the most recent H-1B lottery competing for 85,000 visas for skilled foreign workers.”
Technical note: TechServe Alliance’s IT Employment Index and Engineering Employment Index are the first specific measurements of technology and engineering employment. These unique measurements of total technology and engineering employment are created monthly by studying the ongoing staffing patterns of a dozen technology and computer related occupations in 22 industries and industry sectors employing significant numbers of tech workers and nearly two dozen engineering occupations in 30 select industries and industry sectors employing significant numbers of engineering workers. Both the monthly IT Employment and Engineering Employment Indices are based on U.S. Bureau of Labor Statistics (BLS) data, which is subject to monthly revisions, and is revised accordingly. Both indices are also subject to periodic revisions and annual re-benchmarking that includes revisions to several years of employment data, which also may incorporate new occupational definitions. Both indices were re-benchmarked going back several years through January 2021 data. In addition, both indices are subject to minor revisions to March and April data. The next major revision will be published in February 2022.
About TechServe Alliance
TechServe Alliance is the national trade association of the technology & engineering staffing and solutions industry. Technology & engineering staffing and solutions firms count on TechServe Alliance to keep their leadership informed, engaged, and connected. TechServe Alliance serves as the voice of the industry before the policymakers and the national and trade press. By providing access to the knowledge and best practices of an entire industry and tapping the “collective scale” of its members, TechServe Alliance supports its members in the efficient delivery of best-in-class technology & engineering staffing and solutions for clients and exceptional professional opportunities for every consultant.
