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The Future of Tech Unemployment

The Future of Tech Unemployment

Author: Chris Alex /Tuesday, July 23, 2019/Categories: SNI Companies, SNI Technology

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Spoiler alert — unemployment in the United States is at an all-time low, dropping to 3.8% at the end of 2018. This is the lowest percentage our nation has seen in decades. Better news? If you are a tech professional, this industry is experiencing a 1.3% unemployment rate as of May 2019 and is expected to stay under 2% in the years to come. While the overarching employment rate is very encouraging — why is the tech industry’s continuing to reduce?

Decreasing Talent
A 1.3% unemployment rate indicates a plethora of things, including the fact that the IT talent pool has become very shallow, leaving employers to compete for the best employees across the country. Tech companies are now, more than ever, willing to offer high compensation and increased perks for those that are qualified, all in hopes to lock down people they need in high priority positions. To put this into real perspective — over 200K+ positions have been added to LinkedIn of employers seeking to fill software positions in the U.S.

Specialized Functions
Although tech organizations are looking for IT professionals across the spectrum, they are most hungry for those that specialize in the trending fields, such as AI and machine learning. These programs are being implemented in many areas and across industries making the demand high for those proficient in the technology. Because you can’t teach or learn these programs overnight, those that highly focus on it are also those that are sought after by hiring managers.

Contracting Trend
In order for businesses to meet their needs and deadlines in such a low unemployment space, many are turning to contractors and ‘gig ‘ workers. These are professionals seeking flexibility by choosing a freelancing landscape versus 9-5 desk job, and organizations are contracting them to fill their open roles even if it is only a temporary fix.

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Chris Alex
Chris Alex

Chris Alex

Chris comes with 10+ years of Specialized Staffing industry experience and he has placed 400+ Professionals in various markets.

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Contact author Full biography

Full biography

Chris comes with 10+ years of Specialized Staffing industry experience and he has placed 400+ Professionals in various markets. He is a multi "Reach for the Stars (both Chairman's Club and President's Club)" Winner and he prides himself in having a high level of ethics while providing his clients with the highest level of service possible.

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8 comments on article "The Future of Tech Unemployment"

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wuxiaworld

7/30/2019 1:28 AM

wow! These look perfect!! this is truly an amazing article



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theenterprisemagazine

8/2/2019 3:12 AM

Perfect piece of work you have done, this site is really cool with great information






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