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Tech Unemployment Rose to 2 % in February, a Slight Uptick

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Tech Unemployment Rose to 2 % in February, a Slight Uptick

With organizations in every single place scrambling to rent every kind of technologists, the tech unemployment fee has remained notably low for a lot of months. Nevertheless, a brand new evaluation of U.S. Bureau of Labor Statistics (BLS) information by CompTIA reveals tech unemployment ticked up a bit in February.

Particularly, the unemployment fee elevated from 1.7 p.c in January to 2 p.c in February. That’s nonetheless remarkably low by tech-industry requirements, and in step with latest historical past (between August and December 2021, for instance, the speed fluctuated between 1.5 p.c and a couple of p.c, gusting as much as 2.6 p.c in November).

That widespread demand is finally useful for technologists, giving them further leverage when negotiating for brand spanking new roles and better compensation. Based on the most recent Nesta Wage Report, the typical technologist wage elevated 6.9 p.c between 2020 and 2021, exceeding six figures ($104,566). For extremely expert technologists in specialised disciplines akin to information science, these salaries (together with different types of compensation, akin to inventory choices) can climb even greater.

Many technologists are utilizing the present demand to ask for added advantages akin to little one/elder care choices, coaching and schooling, and even wellness applications. Smarter employers are recognizing that they’ll entice and retain the perfect expertise by providing issues their rivals haven’t even thought of; you may be stunned by what you will get in case you simply ask.  

Employer job postings for tech occupations nearly reached 388,000 in February, up by nearly 50,000 from the month earlier than. Tech corporations added 5,300 employees in February, down from 24,300 in January. As you would possibly count on, tech hiring stays sturdy in longtime tech hubs akin to New York Metropolis and Seattle, whereas up-and-coming hubs akin to Kansas Metropolis and Boise noticed notable month-over-month bumps in hiring.

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