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While technology sector hiring has taken a hit in recent months, the overall outlook for IT job growth and opportunities has stabilized across all industries this year. Data Scientists/Analysts, Cybersecurity Professionals, UI/UX Designers, and Software Developers.
That’s a key conclusion from CompTIA’s recently released State of the Tech Workforce report, which predicts a 3% increase in the size of the US tech workforce by 2023. This is the same pace of growth we have seen in the last 12 months.
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According to the report, there are currently 9.2 million people in the U.S. who can be considered technology professionals, representing 5.8% of the total workforce, but this relatively small segment is highly leveraged by other businesses. It has a big impact.
According to the study, the estimated median salary for technology workers is $100,615, double the median salary for all occupations.
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Over the next decade, employment in technical jobs is expected to grow at about twice the rate of total employment in the economy as a whole.
The tech jobs projected to grow the most in 2023 include:
- Data Scientist and Data Analyst — 5.5%
- Cybersecurity analysts and engineers — 5.2%
- Web Designer and UI/UX — 4.7%
- Software developers and engineers — 4.7%
- Software QA and Testers — 4.1%
- CIO and IT Director — 3.4%
- Systems Analysts and Engineers — 2.6%
- IT Support Specialist — 2.4%
Of the more than 9 million technology workers identified in the study, 61% are dedicated to building and deploying solutions, and 39% are in the business aspects of technology delivery (sales, marketing, finance, human resources, operations, administration, ) is devoted to
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The majority of technology professionals are employed by end-user companies (58%), while the remaining 42% work directly with technology companies.
Within the technology industry itself, which includes IT jobs and the business jobs that support them, “growth is mixed,” say the report’s authors. The IT services and custom software services categories have been the driving force behind job growth since 2017, accounting for 52% of his job growth. Software products accounted for 29% of job growth over the same period.
New York will lead the way in 2021-2022 tech job growth, followed by Dallas and Seattle.
- New York City +18,420
- Dallas +14,010
- Seattle + 13,438
- San Francisco +12,650
- Austin +10,795
- Los Angeles +6,681
- Denver + 6,357
- miami + 5,166
- Houston +5,090
- San Jose +4,539
CompTIA’s research also reveals that high turnover is almost the norm in the tech sector. Over the period 2023-2033, the replacement rate for skilled jobs will average about 7% per year, or about 400,000 workers each year, totaling several million by 2033, the report projects. I’m here. Total turnover, including employees transitioning within technology, such as those promoted to new roles, is estimated to average 36% annually during the reporting period.
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