October’s Tech Unemployment: 2.8 Percent

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The U.S. unemployment rate dipped to 5.0 percent in October, lower than analysts’ expectations. In the tech sector, the unemployment rate remained unchanged from September, at 2.8 percent; that’s an improvement over October 2014, when the rate stood at 3.0 percent.

Among technology job categories, consulting added 9,900 positions last month, ahead of computer and electronic product manufacturing (which added 1,200 jobs) and data processing, hosting, and related services, which lost 200 jobs.

Although any uptick in manufacturing jobs is ostensibly a good sign, given weakening demand for PCs and other hardware, October’s gains in that segment came in significantly lower than in 2014, when 2,000 jobs were added.

A recent Dice analysis of U.S. Bureau of Labor Statistics (BLS) data found that unemployment in other tech categories ticked upward in the third quarter of 2015. Those categories included computer systems analysts, programmers, network and systems administrators, software developers, and computer & information systems managers.

But what goes down (or up) in a quarter can just as easily reverse itself the next; and despite a slight rise in unemployment in some areas, there are signs that the overall economy for technology professionals remains strong. For example, voluntary quits among tech pros averaged a robust 500,000 employees per month in the third quarter—a sign that employees feel confident enough about the economy to leave their current jobs in search of better opportunities (or freelancing).

Image Credit: Bacho/Shutterstock.com

Comments

8 Responses to “October’s Tech Unemployment: 2.8 Percent”

November 10, 2015 at 2:30 pm, Bart LUC said:

Yeah right…I guess the 2.8% left still searching for a job must be OVERQUALIFIED , 55 years and plus OLD professionals, men and women, who try to desesperately to hang there because they cannot get Health Insurance. I am lucky that in California we have generous un-employment Insurance benefits …

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November 12, 2015 at 6:52 am, Mel said:

You’re not alone. Almost 46, 23 years experience and ‘over-qualified’ has become the bane of my existence. Lots of 5-7 year BA/PM jobs in Ohio but the second they see 10+, you’re fine. And Ohio has crap benefits and no health care assistance if you don’t fall into one of the big three: married, kids, salary (on LAST year’s W2) below ‘x’ per household. I have to drop my health insurance in Dec add I just can’t afford it. There is no COBRA for people who bought their own insurance because the consulting company didn’t offer any. I guess once you have experience, you’re no longer useful. 🙁

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November 12, 2015 at 8:27 am, Dan T said:

Agreed. Age 61.. … part of that 2.8% in FL. Good thing for us 55+ folks … this is the USA and we never never discriminate because of age !!!

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November 12, 2015 at 9:14 am, Scott said:

Ditto; 60 and doing a consulting startup as “old guys” are “obsolete”.

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November 12, 2015 at 9:18 am, H.S. said:

I’m 56 and have survived several periods of unemployment in the course of my career by pulling up stakes and moving to where the work is. It’s been a little tough on my family at times but better than being broke! I’ve also continuously upgraded my skills including getting my master’s in EE when I was 51. This is not the life that I imagined when I was younger but it’s one I’ve been given.

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November 12, 2015 at 11:48 am, Michael said:

It’s (un)common knowledge that the numbers that are reported are misleading and fail to count the folks, like myself, who have been long term unemployed, yet still looking. My benes have long since exhausted. Fortunately I can reconnect with folks, but at 40+, feels like the new 50+. And in a weak jobs market, seriously considering starting up a business to counteract those distortions, and make an effort to drum up business that can help to sustain me, in spite of other (un)commonly known distortions. Really, I’m not that sarcastic about it, but it does tax my cynicism at the state of this once great(er) nation.

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November 12, 2015 at 12:57 pm, Sniff and Scurry said:

This response is follow up to H.S. You have the right attitude. I am often reminded of two of the characters in the “Who Moved My Cheese” popular book of the early 2000’s. You understood that the cheese station “was moving” or “had already moved,” and instead of standing around waiting for it to return, decided to also move (develop the skills needed to still be relevant, even at a new unfamiliar “cheese station)”. The fruit of that is that you have survived, in spite of all the reason that you could use for not changing, i.e. ageism, and very importantly, you have taught your children the importance of engaging adaptability, knowing and accepting the truth: that things will “always” change. GOOD FOR YOU!!!!!

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November 14, 2015 at 8:43 pm, Robert said:

I myself have just finished College with a degree in information systems technology major network management. And I have yet been able to find a job I guess due in part of my broken up work history. There isn’t a lot of IT jobs and my city. They don’t tell you this in college that just because you have the degree and no experience in your field that a lot of jobs you are not going to get

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