Flat tech employment growth is indicative of an ongoing talent crisis in high-demand skill sets.

Alexandria, Va., August 10, 2022 /PRNewswire/ — Amid worrisome macroeconomic trends and talk of a recession, hiring by US businesses beat expectations, adding 528,000 jobs in July. Compared to broader employment trends, job growth in the IT sector was unchanged from June, falling 0.02% in July, according to the TechServe Alliance, a national trade association for the IT and engineering staffing and solutions industry. Year over year, IT employment was down 0.32 percent. July 2021Adding just 17,400 jobs over the year. The engineering sector posted 4.08% year-over-year job growth, with 106,900 jobs added during the year.

“We continue to see a very strong demand for technology skills and a shortage of qualified candidates,” he said Mark RobertsCEO of TechServe Alliance. “This is evidenced by the sector’s low unemployment rate of 2.2% and by our member companies, the demand for jobs from their customers continues. It is no surprise that we continue to struggle to grow overall technology jobs. The cake is due to this significant supply-demand mismatch.”

“This really highlights the importance for businesses to move quickly with hiring decisions, offer competitive compensation and not hire that perfect candidate or lose that candidate to employers who need similar skills.”

The following table provides information about the total number of jobs in certain sectors that provide a large amount of work for IT and engineering professionals.

Technical Note: TechServe Alliance’s IT Employment Index and Engineering Employment Index are the first measures of IT and engineering employment. These unique general IT and engineering hiring metrics are generated monthly by studying twelve IT and computer-related jobs in 22 industries and industry sectors with the largest number of IT workers and nearly two dozen engineering occupations in 30 selected industries and industries. Sectors that employ many engineering workers. Both the monthly IT employment and engineering employment indices are based on data from the US Bureau of Labor Statistics (BLS), which are revised monthly and revised accordingly. Both indexes include periodic revisions and annual revisions/benchmarking that include updates to employment data over several years, which may include new job definitions. Both indexes have been revised/corrected since inception several years ago. January 2022 Data and published in February 4, 2022. Additionally, both indices are subject to minor revisions in March and April data. The next major review will be published by February 2023.

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About TechServe Alliance

TechServe Alliance is the national trade association for the IT and engineering staffing and solutions industry. IT and engineering staff and solutions organizations count on the TechServe Alliance to keep their leadership informed, engaged and connected. TechServe Alliance serves as the industry’s voice before policymakers and the national and trade press. The TechServe Alliance supports its members by providing quality IT and engineering staffing and solutions to customers and specialists by providing access to an entire industry’s knowledge and best practices and tapping into its members’ “common sense.” Opportunities for each consultant.

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Source TechServe Alliance