Technology sector leads others in low unemployment rates

According to a new report from CompTIA, the technology sector accounted for the lowest unemployment rates in July, despite layoffs at prominent companies.

Employment in the tech industry recorded a net increase of 12,700 workers, the 20th consecutive month of growth. So far, the tech sector has created 143,700 jobs in 2022, a 55 per cent year-over-year increase, according to CompTIA.

Tech occupations across all industry sectors added an estimated 239,000 jobs in July, and the tech-job unemployment rate in July was just 1.7 per cent for women, 1.3 per cent for men, about half of the overall U.S. unemployment rate of 3.5 per cent.

Within the technology sector, three occupational groups recorded employment growth in July: Other information services, including search engines (+6,800); data processing, hosting and related services (+4,100); computer and electronic products manufacturing (+ 3,300).

Recruitment in IT services and custom software development stagnated, while occupations in telecommunications declined (-1400).

About one in five technology job advertisements in July involved positions requiring two years less experience; about half cited three to five years of experience, while 13% sought candidates with nine or more years of experience, according to CompTIA.

The sources for this piece include an article in ComputerWorld.

IT World Canada Staff
IT World Canada Staff
The online resource for Canadian Information Technology professionals.

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