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Tech Employment Remains Flat Amidst Strong Demand for Talent but Low Supply

·3 min read

ALEXANDRIA, Va., June 13, 2022 /PRNewswire/ -- Job growth in the IT sector remained flat in May with employment up a mere 0.04% from April. On a year-over-year basis, IT employment was up 0.64% from May 2021, adding 34,500 jobs in the year's period, according to TechServe Alliance, the national trade association of the IT & Engineering Staffing and Solutions Industry. The Engineering sector showed a year-over-year job growth rate of 3.96%, with the addition of 102,900 jobs over the course of the year.

TechServe Alliance May 2022 Employment Indices
TechServe Alliance May 2022 Employment Indices

"Demand for tech talent continues to remain strong as shown by the record low unemployment rate for technology professionals," said Mark Roberts, CEO of TechServe Alliance. "In this tight labor market, hiring managers will have to be mindful of the expectations and demands of the tech workforce as we navigate through the complexities of work-from-anywhere culture in order to hire and retain employees, especially in the specialized tech roles."

The following table presents information about the total number of jobs in certain sectors that provide a significant amount of employment for IT and engineering professionals.

Comparisons of TechServe Alliance's IT Employment Index to employment
in some key sectors with significant numbers of IT jobs as well as to all non-farm jobs

May 2022

TechServe Alliance

IT Employment Index

Computer systems and design services

Management and technical consulting services

Data processing, hosting and related services

TechServe Alliance

Engineering Employment Index

Computer and electronic product manufacturing

Professional and technical services

Federal, State, and Local Government (excluding state and local schools and hospitals)

Total non-farm jobs

number of jobs

5,409,300

2,427,300

1,744,200

416,800

2,703,900

1,079,200

10,388,300

10,800,400

151,682,000

change from previous month

+ 0.04 %

+ 0.5 %

+ 0.4 %

+ 1.3 %

+ 0.24 %

+ 0.4 %

+ 0.5 %

+ 0.1 %

+ 0.3 %

change from same month, one year earlier

+ 0.64 %

+ 6.6 %

+ 8.0 %

+ 9.9 %

+ 3.96 %

+ 2.2 %

+ 6.0 %

- 0.1 %

+ 4.5 %

Technical note: TechServe Alliance's IT Employment Index and Engineering Employment Index are the first specific measurements of IT and engineering employment. These unique measurements of total IT and engineering employment are created monthly by studying the ongoing staffing patterns of a dozen IT and computer related occupations in 22 industries and industry sectors employing significant numbers of IT workers and nearly two dozen engineering occupations in 30 select industries and industry sectors employing significant numbers of engineering workers. Both the monthly IT Employment and Engineering Employment Indices are based on U.S. Bureau of Labor Statistics (BLS) data, which is subject to monthly revisions, and is revised accordingly. Both indices are also subject to periodic revisions and annual revisions / benchmarking that includes revisions to several years of employment data, which also may incorporate new occupational definitions. Both indices were revised / benchmarked going back several years starting with January 2022 data and published in February 4, 2022. In addition, both indices are subject to minor revisions to March and April data. The next major revision will be published in February 2023.

ABOUT TechServe Alliance 

TechServe Alliance is the national trade association of the IT & Engineering staffing and solutions industry. IT & Engineering staffing and solutions firms count on TechServe Alliance to keep their leadership informed, engaged, and connected. TechServe Alliance serves as the voice of the industry before the policymakers and the national and trade press. By providing access to the knowledge and best practices of an entire industry and tapping the "collective scale" of its members, TechServe Alliance supports its members in the efficient delivery of best-in-class IT & Engineering staffing and solutions for clients and exceptional professional opportunities for every consultant.

Cision
Cision

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SOURCE TechServe Alliance