It’s a jobs report many were anticipating with hope that the June numbers would show the economic acceleration we’ve been waiting for. This month the report from the Bureau of Labor Statistics did not disappoint. According to the June jobs report released Friday, 288,000 new jobs were added, compared to the revised number of 224,000 new jobs in May. The unemployment rate dropped from 6.3 percent to 6.1 percent. Economists say we haven’t seen this kind of growth since the tech boom of 1999 and 2000.
An In-Depth Look at IT Employment in June
Employment in professional and business services rose by 67,000 in June and averaged 53,000 per month since June of 2013. The report also indicated that 2.995 million people were employed specifically in the IT field in June and gained about 22,000 new jobs for the month (up from May’s 13,400 new jobs). This month, employment within the industry increased by 8,000 in management and technical consulting services, 7,000 architectural and engineering services, and 7,000 in computer systems design and related services.
We also got a clear picture of how the IT industry is doing compared to other fields. Currently, our national unemployment sits at 6.1 percent. However, the tech unemployment rate is drastically lower at 2.4 percent. The industry is showing above average pay for its workers and experts say this might be a factor in the low unemployment. A new report released by Janco Assocates shows the in-demand jobs in IT are associated with quality control, BYOD implementation, and service level improvement.
Understanding Job Trends Helps Land Top Talent
As growth in the IT sector continues to trend upward, a shortage in IT talent is eminent. Modis wants to help you stay on top of the trends so you can continue to fill your workforce with exceptional talent. Check out our whiteboard video from one of our Modis experts that goes in-depth on the latest tech trends in IT hiring.