If you have a college student in your family who is looking for a job, remember this one word: “Data.”
Earlier this week the Conference Board reported that online help-wanted ads rose 232,000 in June, led by computer and math occupations. This positive note was buttressed by today’s ADP report of a projected 176K gain in jobs in June (see WSJ story), and a small drop in new unemployment claims.
In many ways, the continuing boom in tech employment going to be the big story in the labor market for at least the rest of the year. Between mobile, apps, social media, and big data, the dizzying pace of innovation is creating demand for tech-savvy workers. This doesn’t necessarily mean coders, but it does mean some degree of familiarity and comfort with the new developments in tech.
Right now the numbers are telling us that there are 5 want ads for every unemployed worker in computer and mathematical occupations. These want ads are all over the country, not just in the tech havens such as California and Washington.
By contrast, the number of unemployed workers in business, financial and managerial occupations exceed the number of want ads by a considerable margin (roughly 1 million unemployed in business, financial and managerial occupations, compared to 750K want ads) (these figures come from the Conference Board press release).
I’m going to be looking at tomorrow’s jobs report for signs that the tech job boom continues.