Despite what you’re seeing in the national headlines, the IT hiring market remains robust. Job postings were up 25% from January to October of 2022, comparative to the same period in 2021. And CompTIA reports the tech unemployment rate is at 1.5%, compared to the national unemployment rate of 3.4%
What’s driving the growth? Quite simply, data growth is exploding. The IDC estimates enterprise data will double from 2022 to 2026. More companies are upgrading their legacy tech stacks and placing massive investments in the global cloud. And for industries like infrastructure, bracing for a windfall of work thanks to the Infrastructure Investment and Jobs Act, technology investment will be key to keeping up with the pace.
While layoffs at companies like Apple, Amazon and Meta have dominated the news cycle, the May 2023 jobs report paints a different picture. In April, employment continued to trend upward for the professional services, health care and finance industries, all industries increasingly reliant on upgrading their technology infrastructure. And with tech talent less concentrated in the Zuckerberg / Musk / Bezos world, these growing companies have access to some of the top tech talent in the country. As a matter of fact, ZipRecruiter estimated that in the last 3 months, nearly 4 in 5 laid off tech workers have re-entered the workforce. Industry studies estimate 64% of tech managers plan to hire full-time staff this year, and 72% plan to rely on contract staffing to fill skill gaps among permanent staff.
If you’re in need of IT staff, AstraWorks is here to help. Read more about our new IT recruiting practice and contact our IT recruiting leader, Jen Copp, today.