July Jobs Report: 187K jobs added, tech contributes +24k
Another 187k jobs were added and unemployment went down to 3.5% in June's Bureau of Labor Statistics Jobs Report, nearly matching analyst expectations (200k job additions predicted). Taking into consideration other data, such as GDP, productivity and consumer spending, which all have been surprisingly strong lately, analysts are less concerned about the US economy heading into an immediate contraction. But, definite signs of cooling are prevalent.
In terms of hiring, the report indicates that most people who want to work can find jobs, keeping upward pressure on wages. The labor market is rebalancing, but it’s a gradual process, and that explains why we’re still seeing some tightness.
Professional, scientific and technical services was once again a top performing industry with 24k jobs added and saw a slight dip in its unemployment rate for the second month in a row. Here's a look at key tech jobs report insights.
Key Tech Jobs Report Insights
Tech Jobs Added: +24k in Professional, Technical and Scientific Sciences
Tech Unemployment Rate: 2.6% which is down from June
YOY Gains: +352.8k jobs which averages +29.4k jobs per month
Tech Talent Leads Hiring Demand
Tech is leading the way when it comes to hiring demand, according to the American Staffing Association. The ASA advises tech talent to not just look at large tech companies, but rather small and medium-sized enterprises. It’s safe to say every business utilizes technology in some way and needs skilled workers on staff. The good news for tech talent: You’re less likely to need to relocate for a job because these positions are available everywhere.
Read more: Workers Staying Committed To Jobs
There are lots of new job opportunities in the fields of artificial intelligence, engineers and consultants. AI jobs appear to be dominant in California, New York, Los Angeles, Boston and Seattle, according to The Brookings Institution. However, with the rise in remote work, skilled talent should not shy away from going after positions that fit their skillset and interest.
Read more: 2023 Tech Market Report: Hiring Trends and Future Predictions
Five Technology Skills Most In Demand
Technological expertise is needed across the board, in every industry in the U.S. The highest demand for skilled candidates is in areas with the most growth and rapidly advancing landscapes of applications.
- Salesforce Architects & Developers - As companies seek to increase support for more remote workforces, Salesforce has taken a leading role in enabling remote work and remote contact with customers. Salesforce and its ecosystem of partners are expected to create 9.3 million new jobs and $1.6tn in new business revenues worldwide by 2026.
- Mobile App Developers - The mobile app economy has flourished as industries have shifted and rebounded. Consumer working habits adjusted heavily, with 30% more hours devoted to mobile-first habits in 2021 than 2019. All this means that demand for mobile app developers is expected to increase by 17-24% by 2026.
- Adobe Experience Manager - From retail, manufacturing and financial services to media and entertainment, almost all industries use Adobe Experience Manager (AEM) to varying extents, which is best described as a content management solution created for digital marketing professionals and developers. The market is extremely competitive, and the supply of quality candidates is limited as companies have ramped up hiring over the course of the last two years due to a strong need for an online presence.
- Data Analytics & Business Intelligence Experts - According to Gartner, business leaders are beginning to understand the importance of using data and analytics to accelerate digital business initiatives. Instead of being a secondary focus – completed by a separate team – data and analytics is shifting to a core function.
- Software Developers - Software developers create computer applications that allow users to do specific tasks and the underlying systems that run devices and control networks. Employment of developers, quality assurance analysts, and testers is expected to increase by 22% from 2020 through 2030.
When To Work With Tech Recruitment Agency
There are significant advantages to working with a specialty tech recruitment agency rather than a more general staffing firm or conducting talent searches in-house. A STEM specialist recruitment firm has a better understanding of a client’s specific needs and the industry. Our relationships within the talent pool provide us access to the hidden gems that serve our clients’ needs best. Often, we help inform and educate our clients to create a job description that is more accurate to their needs than they had originally prepared.
Employers cannot be effective experts in every technical discipline. It is difficult for an organization to hire the right person with only their own resources. We understand the needs of the tech talent market and can identify the talent companies need, often before it is available to others on the wider job market. We provide access to candidates who have already been through our proprietary accreditation process, eliminating the time our clients spend talking to unsuitable candidates.
While our candidates receive the best opportunities in their chosen fields to develop and grow their skills and careers, our clients gain access to a unique community of exceptional specialist candidates to hire top talent faster. Both candidates and clients have the confidence of compliance and flexibility in choosing the hiring model they prefer.
As a U.S.-focused company, connecting clients with the best talent across our community of IT experts, we deal every day with the skills and talent issues that businesses need to resolve if they are to compete in today’s ever-changing tech scene. Working with our dedicated advisors can help position your group at the heart of our extensive network, providing access to the best and most diverse talent in the sector.
Find Your Employment Solutions Match
Computer Futures is ready to help connect the best tech talent with the top companies in the U.S. Whether you’re a tech company or skilled worker looking for your next opportunity, our experts can provide custom employment solutions – no matter where you live. Connect with us today.
