Mixed signals in tech job market for April
CompTIA has analyzed the US Bureau of Labor Statistics job data from April and found that the number of tech occupations decreased by 99,000, resulting in an increase in the unemployment rate for tech occupations to 2.3%. However, the report also showed that tech sector companies increased staffing by 18,795, marking the highest monthly hiring volume since August 2022. Despite the decrease in tech occupations, there was continued demand for tech talent, as employers listed over 300,000 job postings for tech positions in April. The IT services and custom software development sectors led the hiring pace, followed by cloud infrastructure, data processing, and hosting. The job postings for tech positions were dispersed geographically and across various industries, with the highest volumes occurring in administrative and support, finance and insurance, and manufacturing sectors, and in metropolitan markets like Washington, New York City, Dallas, Los Angeles, and Chicago. Furthermore, the number of tech job postings specifying remote or hybrid work options rose to more than 65,000 positions across the US. The Chief Research Officer at CompTIA, Tim Herbert, stated that the April job data showed mixed labor market signals. The strong employment gains in the tech sector were offset by the pause in tech hiring across the economy.