The important role of the tech industry in the US economy is clearly seen in the annual report recently released by the technology industry association CompTIA. Entitled Cyberstates 2018, the report includes employment statistics which reflect the economic strength that the tech industry has in each US state—showing it as a top-five economic contributor in 22 states and in the top 10 of 42 states.
The report showed that tech employment in the U.S. expanded by almost 200,000 jobs in 2017—an annual number reached every year since 2010. Total employment is now an estimated 11.5 million workers, contributing $1.6 trillion to the U.S. economy, remaining one of its’ largest components. In addition, the U.S. Bureau of Labor Statistics projects that the base of tech occupations will increase by 626,000 jobs by 2026 and demand will outpace supply.
Most noteworthy, annual salaries of tech workers is 107% higher than the national average, $112,890 versus $54,420.
Other key findings were:
- 38 states saw positive tech employment growth in 2017 versus 36 states in 2016 experienced growth.
- The top five states for net job gains in 2017 were California (43,600), Texas (13,400), Michigan (13,200), Florida (12,000), and New York (10,400)
- The national composition of the tech sector workforce is 66 percent men and 34 percent women, unchanged from 2016.
- Massachusetts At 10.6 percent has the highest concentration of tech workers relative to its overall employment base, with Washington (9.9 percent), Virginia (9.9 percent), the District of Columbia (9.7 percent), and Colorado (9.7 percent).
“Employer demand for tech talent continues to outstrip supply in many markets,” said CompTIA senior vice president of research and market intelligence, Tim Herbert. “Nationally, the number of job postings associated with emerging technologies increased 27 percent year-over-year – further confirmation employers are ramping up hiring in areas such as the Internet of Things, artificial intelligence, machine learning, autonomous vehicles, augmented and virtual reality, and more.”