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The world has seen a sizable layoff at multi-national companies in recent months, but the tech sector has seen a continued lead in low employment rates in July of 2023.
According to research by CompTIA, the US Bureau of Labor Statistics (BLS) commented that tech jobs across all industries increased by an estimated 239,000 positions in the last month.
Tech industry employment saw a gain of 12,700 workers, with growth in the 20th consecutive month. So far, in 2023 the tech sector has seen a 55% YoY growth with 143,400 jobs.
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So, How Many Jobs are Available in Technology?
In 2023, employer postings of tech jobs reached 484,000 in July. Although this was a little less than June, it was still at record levels. By July 2023, US companies have listed over 3.1 million tech positions with an increase of 49% from 2021.
The tech industry has seen a high increase in the trend of the Great Resignation. With the ongoing global pandemic, workers have had the chance to rethink their career growth, work/life balance, working conditions, and long-term goals. The trend showcases the deep dissatisfaction by hundreds of employees and this was felt in the tech industry with over 4 million people quitting their jobs in June 2021.
According to a survey by Joblist, some of the reasons for people quitting are:
- Employer treatment during the pandemic (19%)
- Reduction in pay or lack of benefits (17%)
- Lacking work-life balance (13%)
Which Categories Have Recorded Job Growth in Technology?
If you are wondering ‘how many jobs are available in technology?’ then you need to understand the categories involved. So far, three categories showcased recorded job growth in July 2023. They are:
1. Other information services like search engines (6800+);
2. Data processing, hosting, and related services (+4100); and
3. Computer and electronic products manufacturing (+3300)
About 1 in 5 tech jobs in July were looking for people with less than 2 years of experience. About half wanted 3-5 years’ experience, while 13% wanted candidates with more than 9 years’ experience.
| Industry | Percentage growth |
| Data scientists | 4.3% |
| Cyber security | 4% |
| Software QA/Software Developers | 3.9% |
| Computer and Information research scientists | 3.5% |
| Web developers and digital interface engineers | 2.6% |
| Emerging tech, IT project management, and others | 2.1% |
| IT support specialists | 1.7% |
Employers in the tech industry are looking more at the job experience, skills, and personality traits of the candidates rather than college degrees. This helps create a more diverse pool of candidates for companies to choose from.
Software developers and engineers are some in-demand positions with nearly 148,00 job postings in July 2023. There is also a significant requirement for the following positions:
- IT support specialists
- IT project managers
- Network engineers and architects
- System engineers and architects
Also, jobs in emerging technologies account for 1/3rd of job postings in July.
But, due to a dearth of talented workforce, multiple tech companies are working on non-traditional hiring options such as coding boot camps, and low-code training classes.
Cybersecurity is also another field that is struggling to attract candidates. According to Mike Hamilton, founder and CISO of Critical Insight, the last year has seen more of a seller’s market concept. Due to the great resignation, the already short supply of practitioners has been reduced.
As per Mike’s understanding, issues such as remote working, limited travel, and quality of life have elevated in importance over salary. So, getting employees who are willing to work even with high salaries have become far and few.
In recent days the unemployment rate fell to a record low in May, and the employer job posting passed 443,000 as per data collated by CompTIA. Employers throughout the USA are stepping up their search for tech employees.
According to Janco Associates, more than 190,000 jobs will be created in 2023. If you are wondering ‘how many jobs are available in technology?’, according to the same CompTIA report, some of the top jobs available are software engineer, software developer, IT support specialist, IT project manager, network architect/engineer, and systems engineer/architect.
Which Tech Jobs Have Seen a Jump in Salary?
According to a survey by O’Reilly Media, tech workers in the cloud space have seen some of the highest jumps in terms of salary. As per the report, cloud-focused employees are some of the most sought-after talents. The survey showed that cloud professionals receive a yearly salary of $182,000. Due to the reshuffle of the technology sector, The average salary has increased by 4.3% in the last year. Unfortunately, women still receive an 8% lower salary than men, based on the study.
Some of the highest-paying jobs in the tech industry are:
- Directors ($235,000)
- Executives ($231,000)
- Architects ($196,00)
- Leads ($190,000)
- Managers ($188,000)
Conclusion
If you are a tech specialist or are starting your job journey in IT, then it is best to understand how many jobs are available in technology before jumping in. With the recent trend of The Great Resignation, people are now looking for better opportunities, a better balance in work/life, and an overall better working environment.
So, look for opportunities in companies that suit you because hundreds of jobs are currently available in the market.
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