Technology Sector Leads Others In Low Unemployment Rates

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According to a new report from CompTIA, the technology sector accounted for the lowest unemployment rates in July, despite layoffs at prominent companies.

Employment in the tech industry recorded a net increase of 12,700 workers, the 20th consecutive month of growth. So far, the tech sector has created 143,700 jobs in 2022, a 55% year-over-year increase, according to CompTIA.

Tech occupations across all industry sectors added an estimated 239,000 jobs in July, and the tech-job unemployment rate in July was just 1.7% for women, 1.3% for men, about half of the overall U.S. unemployment rate of 3.5%.

Within the technology sector, three occupational groups recorded employment growth in July: Other information services, including search engines (+6,800); data processing, hosting and related services (+4,100); computer and electronic products manufacturing (+ 3,300).

Recruitment in IT services and custom software development stagnated, while occupations in telecommunications declined (-1400).

About one in five technology job advertisements in July involved positions requiring two years less experience; about half cited three to five years of experience, while 13% sought candidates with nine or more years of experience, according to CompTIA.

The sources for this piece include an article in ComputerWorld.

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