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Tech Unemployment Rate Hits 1.3 Percent, Lowest Since June 2019

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Tech Unemployment Rate Hits 1.3 Percent, Lowest Since June 2019

The unemployment price for tech occupations hit 1.3 p.c in March, which is the bottom stage since June 2019. It’s additionally notably decrease than the nationwide unemployment price of three.6 p.c.

In accordance with calculations by CompTIA, employer job postings for expertise positions rose to 412,000 in March, a rise of 29,000 from February. It’s additionally the primary time the month-to-month rely of job postings has exceeded 400,000.

“The already tight labor market simply grew to become even tighter as competitors for tech expertise reaches near-record ranges,” Tim Herbert, chief analysis officer at CompTIA, wrote in a press release accompanying the info. “For any employer counting on the outdated hiring playbook, it’s time to rethink approaches to recruiting and retention.”

Final week, CompTIA issued information suggesting that the tech workforce may add 178,000 new jobs in 2022, with development in 48 states. Round 8.7 million folks at present work in a tech-related occupation in america.  

Demand for tech expertise is spiking compensation; the typical tech wage now stands at $104,566, in accordance with the most up-to-date Nesta Tech Wage Report, having risen 6.9 p.c between 2020 and 2021. For specialised occupations comparable to information science, salaries are even greater: In accordance with Emsi Burning Glass, which collects and analyzes tens of millions of job postings from throughout the nation, the median wage for an information scientist at present stands at $112,359, and the career is predicted to develop considerably by 2030. 

Different jobs primed for growth over the following 10 years embody cybersecurity specialists, net builders, database directors and designers, IT help specialists, CIOs, and plenty of extra. As tech stacks evolve and enterprise wants change, organizations in every single place will want a wide range of technologists to not solely hold issues working, but additionally determine future technique. Whereas realizing technical expertise will show invaluable to touchdown these positions, they’ll additionally demand empathy, communication, and creativity. Specializing in “scorching” submarkets comparable to synthetic intelligence (A.I.) will permit you to negotiate for even greater compensation. 

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