Good news for the IT industry following the release of the Bureau of Labor Statistics’ Regional and State Unemployment report. Since August of last year, 44 states have added new tech jobs and 36 states have experienced significant job growth overall.
While the national unemployment rate saw a drop last month (now at 5.1%), only 29 states experienced unemployment rate decreases from July to August. Though, year-over-year numbers tell a different story. In fact, 42 states had unemployment rate decreases since last year at this time. The fed continues to keep a close eye on the national and state employment reports as factors for their decision to implement the first interest rate hike since 2006.
In-Depth Look at IT Hiring
The tech sector continues to prove its stability and has once again ranked as one of the top performing industries. Tech currently has one of the lowest unemployment rates at 3.0%, which is also well below the national rate. The industry also has one of the highest job addition rates. August showed 33,000 job additions with computer systems design and related services adding 7,000 jobs and management and technical consulting services adding 6,100. Here is a look at the top 5 states that added the most IT jobs in August:
- Ohio +5,700 IT jobs added
- Minnesota +4,600 IT jobs added
- New Jersey +4,600 IT jobs added
- Texas +4,000 IT jobs added
- Florida +3,900 IT jobs added
44 states experienced significant year-over-year growth in the tech sector. Here are the top 5 states with the highest IT job growth and the top 3 states with highest overall job growth year-over-year:
- California +134,600 IT jobs added, +470,000 new jobs added since last year
- Texas +36,600 IT jobs added, +217,700 new jobs added since last year
- Florida +36,100 IT jobs added, +261,500 new jobs added since last year
- New York +27,600 IT jobs added
- Michigan +26,300 IT jobs added
All Regions See Unemployment Rate Decreases Year-Over-Year
All four regions experienced a decrease in unemployment rates since August of last year and three regions saw unemployment rate drops since last month. The Midwest, once again, had the lowest regional unemployment rate, at 4.6 percent, a 0.2% drop from last month. Here are the regional unemployment figures at-a-glance:
- Midwest -0.2% from July to August, -1.0% year-over-year
- Northeast -0.1% fromJuly to August, -0.8% year-over-year
- South -0.1% fromJuly to August, -0.8% year-over-year
- West 0% from July to August, -0.9% year-over-year
Region-by-Region Fast Facts
Build an Exceptional IT Team
As the tech industry continues to add new jobs each month, the competition to hire top tech talent will continue to heat up. It’s more important now than ever that your business keep pace with the ever-changing tech environment. Attracting and retaining exceptional professionals to your IT department is crucial and offering the right salaries is key to your success.
Our 2016 Salary Guide is the top IT industry resource filled with salary data and job descriptions for hundreds of tech jobs. This year’s guide also features our projections for the future of the IT industry. To get ahead of your competitors and ahead of the market request your free copy today!