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What’s hot in 2016? High tech job creation.

Recent data from the Computing Technology Industry Association (Comp TIA) showed that the technology industry is one of the fastest growing job generators in the South and the nation. The report also indicated that technology job compensation is growing faster than any other sector.

According to CompTIA's annual report, almost 200,000 new tech jobs were created in 2015, bringing employment in the sector to 6.7 million. While the technology industry made up 7.1 percent of GDP, the industry accounted for almost 12 percent of the total compensation of all workers in the U.S.

The No. 1 subsector where jobs are being created is in information technology where 106,000 jobs were gained last year. The average technology job earned $105,400 and technology companies paid out $708 billion to workers in the tech sector last year.

Job openings in the tech industry are skyrocketing, according to the report. There were 938,500 technology job openings in the fourth quarter of 2015, a whopping 29.4 percent gain compared with the fourth quarter of 2014. And new technology company starts are off the charts as well, as there were 473,500 new tech companies of all sizes launched in 2015. CompTIA reported that unemployment in the tech sector was just 2.6 percent at the end of 2015, about half the nation's unemployment rate across all industry sectors in February.




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Features & Opinion

 Randle Report - Business News in the South

For those who still languish over "losing to China" or believe that the economy is still in recession, wake up and smell the data. Economic development in the South was about as good as it gets in calendar year 2015 according to the data. And as for China, borrowing a quote from the late football coach Bear Bryant that he made in the half-time locker room down 15-0 to Georgia Tech in 1960, "We got 'em right where we want 'em." For those of you who don't know the rich history of Alabama Crimson Tide football, Bama scored all of its 16 points in the fourth quarter, kicking a field goal on the last play of the game to beat Tech 16-15.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
Today, factories in the U.S. make twice as much product as they did in 1984. And they are doing it with one-third of the manufacturing workforce. In fact, the output of durable goods in 2015 was the highest in the nation's history. So, we do have a strong manufacturing base, at least in the South, much of the Midwest and parts of the West, and it is getting stronger because on a cost-basis, we can compete with any major manufacturing nation in the world.  
 

 Randle Report - Business News in the South

FEATURE     
The argument for or against a minimum wage hike continues between the reds and the blues, as well as within the economic development community in the South. Should we stay the course with a minimum wage under $8 an hour to better compete with Mexico, the South's biggest competitor for jobs, or set a minimum wage just over $10 an hour, a wage floor most centrists support? That $10 per hour is, according to the MIT Living Wage Calculator, about right in most states in the South for one adult to be able to cover basic expenses plus all relevant taxes.
 
 Randle Report - Business News in the South
Recent data from the Computing Technology Industry Association (Comp TIA) showed that the technology industry is one of the fastest growing job generators in the South and the nation. The report also indicated that technology job compensation is growing faster than any other sector.
 


 

 

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