Here is a deeper dive into
trends and opportunities in the US technology job market.
In the year 2016, 4.4 per
cent of the US workforce was employed in the technology sector. In other terms,
5.5 per cent of the private sector workforce was employed in the technology
sector. Of the 6.9 million jobs in
technology sector, 46 per cent were tech occupation jobs. The remaining 54 per
cent were positions like sales, HR and finance, required to run a business.
With the world increasingly
adopting digital technologies, need for expertise in data analytics, cyber
security, business process automation and cloud computing has increased by
manifold. The need translated into largest numerical gain in employment - that
is 110,000 new jobs in the IT services and custom software services subsector.
Growth in the data processing, hosting, and search portal services categories
lead to creation of 35,475 jobs in the telecommunications and Internet services
sector. The software category (published or packaged software products) added
25,000 new jobs.
The average wage of tech
sector employees was 105 per cent higher than the average wage of employees in
the country. The wages of tech industry workers reflects the strong demand for
their skill sets and expertise. IT professionals in software subsector followed
by those in IT services and custom software services category earned the
highest average annual wages.
36 states added tech sector
jobs while 15 states reported job losses. California tech sector added 48,600
new jobs and led the nation with the highest average annual wage for tech
sector employees at $154,000. New York, North Carolina, Texas, and Michigan too
added significant numbers. South Dakota, Mississippi, Wyoming, West Virginia,
and Montana ranked at the bottom in terms of average tech sector wages.
In 2016, tech occupations
across industries reached 7.3 million, translating to 2 per cent growth on
previous year. 627,000 jobs in industries such as banking and healthcare are
still waiting to be filled by technologists with the right skills. IT
occupations constituted 62 per cent of total tech occupations adding 115,000
new jobs. Software developers, computer systems analysts, and IT support
specialists were in demand to fill 71,450 new jobs that were created.
startups and business establishments
36,508 new of tech
businesses were launched - 1,800 new firms in IT services, and 1,281 new firms in
the areas of data processing, hosting, web search portals, and related
Tech business establishments
totaled 492,550, constituting 5.1 per cent of all business establishments and
5.3 per cent of private sector establishments.
The technology job market
hold promises to IT professionals with good skills. Whether it is opportunities
or compensation the future in IT bright is bright for technologists.