In the US, the unemployment rate for technology jobs decreased for the second consecutive month in April. Job listings for AI-related positions surged to 11% of all postings, indicating a growing demand for emerging tech skills. According to CompTIA, 26% of tech job postings in April required emerging tech skills such as AI, blockchain, IoT, and augmented & virtual reality.
While these skills may not currently have a high volume of job openings, they are considered crucial for the future job market. Employers posted nearly 179,000 new tech job listings last month, bringing the total number of active postings to an estimated 415,000.
The unemployment rate for tech jobs dropped from 4% in March to 3.8% in April, showing a positive trend in the tech job market. Overall, the US unemployment rate remained stable at 3.9%, with 175,000 jobs added in April, according to the US Bureau of Labor Statistics.
Experis North America reported a “cooling effect” in the job market, with increased demand in medical/health, IT, and executive management roles. AI Safety and Compliance roles have seen a significant increase since July 2023, indicating a shift in employer expectations for tech professionals.
CompTIA
For college graduates, the job market is more challenging, with an unemployment rate of 6.2%. Employers are increasingly focusing on skills-based hiring, with 46% of tech job postings in April not requiring a four-year degree. Soft skills are also gaining importance in hiring decisions.
Goldman Sachs
The shift towards skills-based hiring and the emphasis on soft skills are reshaping the tech job market, providing opportunities for candidates with diverse backgrounds and experiences.