Members of the IT industry should be pleased with this morning’s BLS Regional Jobs Report for September. Since August, 22 states have seen increases in the number of tech jobs and since September of last year, 42 states have seen employment increases in the tech sector.
While the national unemployment rate remained unchanged from August (5.1%), 37 states and the District of Columbia saw unemployment rates decrease from last month. Earlier in the month of September, the Federal Reserve announced their decision not to raise interest rates from their current level in response to the current state of the market. The Fed’s chairwoman, Janet L. Yellen, stated that an interest rate hike could still occur prior to the end of the year, the first hike since 2006. However, September’s data suggests that the rate hike may not occur until the beginning of next year.
IT Hiring Insights
The tech sector continues to impress with its stability and once again ranked as one of the top performing industries. In September, the industry had an unemployment rate of 3.1%, significantly lower than the national rate. Since September of 2014, the IT sector has added an impressive 536,000 positions. Here are the top 5 states that added the most IT jobs in September:
- Texas +5,200 IT jobs added
- Kansas +3,600 IT jobs added
- New York +2,600 IT jobs added
- Louisiana +1,900 IT jobs added
- North Carolina +1,900 IT jobs added
42 states experienced significant growth in the IT sector since September of last year. 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 +130,200 IT jobs and +444,300 total jobs added since September 2014
- Texas +38,900 IT jobs and +224,800 total jobs added since September 2014
- New York +27,500 IT jobs and +127,300 total new jobs added since September 2014
- Florida +26,300 IT jobs added since September 2014
- North Carolina +21,600 IT jobs added since September 2014
All Regions See Unemployment Rate Decreases Year-Over-Year
All four regions experienced a decrease in unemployment rates since September of last year and three regions saw unemployment rate drops since last month. Once again, the Midwest had the lowest unemployment rate at 4.5%, a 0.1% decrease from last month. Here are the regional unemployment figures at-a-glance:
- Midwest -0.1% from August to September, -1.0% year-over-year
- Northeast -0.1% from August to September, -0.9% year-over-year
- West -0.1% from August to September, -0.9% year-over-year
- South 0% from August to September, -0.7% year-over-year
Region-by-Region Fast Facts
Build your IT Dream 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 constantly changing tech environment. Attracting and retaining exceptional professionals to your IT department is crucial and offering the right salaries is key to your success.
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