Tech workforce growth of 3% and 300,000 new positions forecast for this year
DOWNERS GROVE, Ill. – U.S. technology employment gains may see a brighter outlook in returning to growth in this year, according to reporting by CompTIA, the nonprofit association for the information technology (IT) industry and workforce.
CompTIA’s “State of the Tech Workforce 2024” forecasts net tech employment spanning the aggregate tech sector and tech occupation workforces reaching 9.9 million workers this year, an increase of more than 300,000 net new workers. This represents a projected year-over-year gain of 3.1%, reversing the modest increase of 1.2% during 2023.
Projections indicate that 20 states and 14 metropolitan areas will exceed the average growth rate. Twenty-six metro markets are expected to at least double last year’s job growth rate, reflecting the diversity of tech hub concentrations across the country.
The economic impact of tech will also continue to expand, building on a base of an estimated $2 trillion in annual direct economic impact and more than 650,000 technology companies contributing to the U.S. economy. Tech sectors in 30 states generate $10 billion or more in direct economic impact.
“After periods of overperformance and underperformance, the overarching tech story remains positive,” said Tim Herbert, chief research officer, CompTIA. “Ensuring a thriving, globally competitive workforce means further committing to developing the country’s base of tech and digital talent through time-tested and alternative pathways.”
Long-term projections for job growth are also on solid footing. Over the next 10 years tech occupation employment is expected to expand at about twice the rate of overall employment across the U.S. economy.
Growth driver occupations will expand even faster. Positions in the data science and data analyst category, cybersecurity category, software development category, UI/UX category and emerging tech category including artificial intelligence will grow at the fastest rates on a percentage basis. On a volume basis, core infrastructure positions in networking and cloud engineering, along with tech support positions, will continue to serve as the on ramp for many starting a career in technology.
Analysis of employer job posting data confirms broad based hiring for these in demand skills and job roles. Aggregate job posting volumes for hiring in core tech jobs roles reached nearly 2.9 million in 2023, while postings for basic digital or advanced digital fluency skills totaled 8.9 million.
New reporting for 2024 release
New additions to this year’s “State of the Tech Workforce” report include:
Employer hiring activity covering basic digital literacy and advanced digital fluency skills
Cost of living and relative earnings rankings
Relative employment opportunity rankings
Age cohort profiling
Updated tech industry and occupation definitions
CompTIA’s “State of the Tech Workforce” is the most comprehensive source of data on the size and scope of the U.S. technology industry and workforce. The report includes data on employment, wages, business establishments, job postings, workforce diversity, emerging tech metrics and more. Access the full report at https://www.comptia.org/content/research/state-of-the-tech-workforce.
