Technology Unemployment Remains at a Historic Low

The unemployment rate for technology occupations remains an incredibly low 1.5 percent, according to a new analysis by CompTIA. That’s noticeably below the national unemployment rate of 5.2 percent. 

Tech companies added some 26,800 technologists and other positions in August, the biggest monthly gain for the tech industry since November 2018. However, tech hiring was weaker in other parts of the economy. “Information technology occupations in all sectors of the U.S. economy fell back by 334,000 in August, a reminder that monthly occupation-level data reporting from the Bureau of Labor Statistics may be subject to higher levels of variance and volatility,” read CompTIA’s report. “Additionally, while difficult to precisely quantify the impact, it is possible the return of uncertainty associated with the Delta variant affected tech occupation hiring in some sectors.”

Top industries for tech hiring included:

“There are a number of positives in this month’s Jobs Report with tech sector hiring, a falling unemployment rate and strong employer hiring activity for tech talent,” Tim Herbert, executive vice president for research and market intelligence at CompTIA, wrote in a statement accompanying the data. “The offsetting dip in tech hiring in some areas of the economy is a potential cause for concern but could also be a momentary pause in an otherwise upward trending tech hiring curve.”

While the Delta variant of COVID-19 has inserted a bit of uncertainty into the equation, it’s clear that virtually all industries need technologists for a variety of duties, from setting up corporate clouds to making sure the tech stack is safe from intruders. If you’re on the hunt for a new role, though, consider targeting tech companies—it seems they’re in the midst of a hiring spree. 

One Response to “Technology Unemployment Remains at a Historic Low”

  1. Jake Leone

    First off, you aren’t an unemployed STEM workers, if you never had a STEM job, even if you have a STEM degree.

    We know that half of all STEM grads NEVER get hired into a STEM job.

    Second, Facebook 2600+ times over just a 1.5 year period, found local STEM/IT workers that were better qualified than local foreign Facebook employees undergoing the PERM process, by Facebook’s own admission to Federal investigators. Facebook told Federal investigators that the local STEM/IT candidates were better qualified than the foreign workers Facebook was protecting from local competition.

    Facebook prefers the foreign workers because they will stay tied to Facebook forever until Green Card day. Americans simply can’t indenture themselves like foreign workers can, and for that reason alone, companies deem Americans unqualified. And companies ARE NOT ALLOWED to discriminate against local candidates for this reason, by Federal law. Yet they still do, because lawyers tell them prosecutions are rare. This case is now going to trial, and all the evidence provided came from Facebook’s own HR employees, who were not willing to lie to Federal investigators.

    And lying, or any other false statement to Federal investigator, will get you a Federal Obstruction of Justice charge that could land you in jail for many years. Just ask Martha Stewart, a billionaire, who served time for just such a charge.

    If we would stop allowing for a fake PERM process. If we would require employers to advertise on their own website, for jobs involved in the PERM process (Facebook didn’t advertise these jobs on their own website, and refused the Free off of the San Francisco Chronicle to put these job ads on the Chronicle website). If we would require that employers accept Emailed resumes (Facebook accepted only stamped mailed resumes, which is insane and obviously nefarious). And if we would limit PERM process to 2 retries, per decade (instead of the current unlimited number of retries). Then we could ensure that that the half of local STEM/IT workers that are not hired each year would be hired.

    The result would be a more normal STEM/IT unemployment rate. Instead we have a skewed an unrealistic result.

    Facebook admitted to Federal investigators that it receives hundreds of resumes for every STEM/IT job it advertises on its jobs website. Facebook admitted that out of those hundreds Facebook typically finds 30+ fully qualified STEM/IT workers, and that Facebook would have hired them, except they have only one job opening which Americans are allowed to compete for. Facebook NEVER forwards the resumes of these better qualified workers (29+ per openly advertised STEM/IT job) (And by Facebook’s own admission, are better qualified than the foreign workers Facebook protects from local competition) to the hiring managers involved in the fake PERM process.

    And let’s get real about the H-1b process, more than half of the H-1b visas go to Offshore Outsourcing companies that bring in fresher trainees, that proceed to document and Offshore well scripted positions in HR, accounting, support, db admin…

    And let’s get real about the demand for H-1b workers. They are mostly in demand because they can be tied to the employer for decades until a Green Card arrives, which conveniently for Facebook, never happens.