U.S. NET TECH EMPLOYMENT
• U.S. net tech employment totaled an estimated 9.6 million in 2023, a gain of
1.2% compared to the previous year. Net tech employment is projected to grow
at an estimated 3.1% year-over-year reaching 9.9 million in 2024.
• Net tech employment accounted for approximately 5.9% of the overall U.S.
workforce in 2023. As noted previously, because of the blurring of lines across
industries, there is a degree of undercounting in tech sector employment.
U.S. TECH INDUSTRY EMPLOYMENT
• U.S. tech industry employment totaled an estimated 6.4 million in 2023, an
increase of 63,336 workers from 6.3 million in 2022. Tech industry employment
is projected to grow at an estimated 3.3% year-over-year reaching 6.6 million in
2024. As noted, tech industry employment is a subset of net tech employment.
• Tech manufacturing employment totaled an estimated 1.1 million in 2023 and is
projected to grow by 20,948 jobs in 2024.
• Among the seven major tech manufacturing subsectors – the OEMs and
companies producing computing hardware, peripherals, semiconductors, etc.,
one is projected to experience employment losses, while the remaining
categories are projected to experience job gains.
• Employment in the telecommunications and Internet services sector totaled an
estimated 1.6 million in 2023, projected to go up by 37,650 jobs in 2024. These
employment gains are driven by growth in the data processing, hosting, and
search portal services categories, where employment should increase by 36,220
jobs. Wired and wireless telecommunications services are projected to lose
7,207 jobs for the same time period.
• The software category, consisting of general purpose software that is not
custom developed, also known as published or packaged software products
(including SaaS), employed an estimated 648,374 workers in 2023, and is
projected to add more than 37,000 net new jobs. On a percent change basis,
software will lead the tech sector with a 5.7% projected year-over-year growth
rate.
• The IT services and custom software services subsector will generate the
largest numerical gain in employment, adding nearly 116,500 net-new jobs in
2024. This gain of 3.9% will increase the employment base to 3.14 million. This
growth reflects the ongoing digital transformations occurring across the
economy and the corresponding need for expertise in areas such as cloud
computing migration, application integration, process automation, data analytics,
and cybersecurity.
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