Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
Posted by: Michael Mandel on July 08
Today’s job report gives more signs that the domestic tech labor market continues to strengthen, despite offshoring. For one, the number of domestic jobs in “computer and mathematical occupations” is up 7.5% over the past year, a very strong performance.
Moreover, some of the key tech industries are clearly willing to hire in decent numbers. For example, year over year domestic job growth in “custom computer programming services” has gone over 5%, a level not reached since 2001.
This is an industry with over 500K workers, so it’s not insignificant(this chart shows a three month moving average).
Where are the weak spots? Employment in tech hardware is still flat, year over year, and that may never change. And telecom companies are still shedding jobs, compared to a year ago.
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.