The March Regional Jobs Report from the Bureau of Labor Statistics is out and the big news is year-over-year changes in unemployment rates. 46 states and the District of Columbia experienced significant unemployment rate decreases from last year.
While year-over-year unemployment rate decreases were substantial, month-over-month numbers were little changed. However, economic growth remains positive. From February to March, 23 states and the District of Columbia experienced unemployment rate decreases and 18 states saw significant job additions. Despite the fact that less than half of our states experienced significant job growth in March, most cities are experiencing job increases within the IT industry.
Tech Industry Employment by State
Last month, employment in the Professional and Business Services sector increased by 40,000. Estimates for year-over-year growth in the industry are taking a turn in the right direction. Taking a look at state-wide numbers, more than half of the states saw growth in the IT sector. The following states have added the most jobs in the industry, over the past month:
- California +16,900 jobs added in March
- Washington +4,700 jobs added in March
- Florida +4,000 jobs added in March
- Kentucky +3,100 jobs added in March
- North Carolina +2,700 jobs added in March
The Professional and Technical Services sector continues to play a big part in the national economic increase. This industry is doing very well and added 23,700 jobs in March. Within the sector, management and technical consulting services and computer systems design both added 4,000 new jobs. The unemployment rate in this sector is currently at 3.3%, which is well below the overall national average.
In-Depth Look: Regional Employment Data
The national unemployment rate is currently holding steady at 5.5 percent and unemployment in all but one of our regions is sitting below that rate. For the eleventh month in a row, the Midwest held the lowest unemployment rate at 5.0 percent, which was a -0.1 percent drop from the former month. All 4 regions saw significant decreases from March of 2014:
- West -0.2% from February to March, -1.2% year-over-year
- Midwest -0.1% from February to March, -1.3% year-over-year
- South -0.1% from February to March, -0.9% year-over-year
- Northeast 0% from February to March, -0.9% year-over-year
The Region-by-Region Fast Facts
Top Performing States
Taking a look at statewide employment numbers, Nebraska has the lowest unemployment rate, sitting well below the national average at 2.6%. March’s report shows that 18 states increased their workforce. The following shows the top states for job increases:
- California +39,800 jobs
- Florida +30,600 jobs
- Massachusetts +10,500 jobs
- Washington +10,500 jobs
Substantial year-over-year job increases happened in 37 states. The three states that ranked highest for the number of jobs added since last year were:
- California +481,900 jobs
- Texas +327,500 jobs
- Florida +284,100 jobs
Stay Informed: Tech Hiring Trends
Currently, nearly half of the U.S. cities are adding more tech jobs each month than other industries but the IT talent pool is shrinking. This means the competition to hire the best talent is heating up. Our Salary Guide can connect you with exceptional tech insights that will help move your business forward. Request our guide today to learn more about the trends impacting how you hire and retain top IT professionals.
Modis is the top IT staffing partner for companies just like yours. With offices located all over the United States, Modis can meet all of your staffing needs. Contact us today for an exceptional partnership.