Main image of article Tech Unemployment Ticked Down Last Month

The tech unemployment rate ticked downward slightly to 3.2 percent in July, according to new data from the U.S. Bureau of Labor Statistics (BLS) as analyzed by CompTIA. Meanwhile, the national unemployment rate hit 4.3 percent.

The broader economy shed 14,000 tech positions last month; the tech industry itself lost 9,162 jobs. “Companies in the tech services and software development sector added an estimated 4,000 workers, which was offset with losses in telecommunications, cloud infrastructure and related sub-sectors,” read CompTIA’s note accompanying the data. “The total base of US tech industry employment stands at approximately 5.6 million workers.”

However, this dip wasn’t a surprise to analysts who follow tech employment trends. “Although disappointing, the slowdown in hiring is about in line with expectations,” Tim Herbert, chief research officer for CompTIA, wrote in a statement. “Employers continue to weigh a range of factors in shorter term tech hiring while eyeing longer term growth strategies.”

According to layoffs.fyi, tech layoffs remained relatively level between July and June. Prominent companies laying off tech workers included Intel, Magic Leap, Salesforce, Intuit, and Spotify. If you’re a tech professional looking for work (or just keeping an eye out for the latest opportunities), it’s understandable if you think the market is sending extremely mixed signals: while companies are aggressively hiring for in-demand skills such as artificial intelligence, many tech professionals are struggling to find a new position despite their experience and skills.  

While layoffs and economic turbulence are always scary, certain tech specializations have seen increases in job postings throughout 2024, including:

Keep that in mind as you engage in your job hunt. If you’ve specialized in artificial intelligence, data science, or another “hot” skill set, your chances of landing a solid position will only increase. Good luck out there!