Aura’s latest Industry Benchmarking Report leverages data from its workforce analytics platform to provide valuable insights into key trends and shifts in the global technology industry.
The Aura platform aggregates millions of data points from publicly available sources, identifying patterns and delivering objective insights into current and future employment markets.
The report offers deep dives into the major industries, such as Technology, Finance, Professional Services, Retail, Healthcare, and Education.
In our July 2024 Hiring Report, we provide detailed month-by-month data and an industry spotlight on AI Job Trends. Today, we focus on the Technology industry as a whole, highlighting key data points and changes from 2023 to 2022, offering a comprehensive, long-term view of the tech sector’s evolution.
1. Overall Job Postings in the Technology Industry
The technology sector saw 7.2 million new job postings in 2023, a 9% decline from 2022. The peak of job postings occurred in May, with 666,000 new technology job posts, followed by a steady decline for the rest of the year. This trend suggests a cautious approach to hiring amidst economic uncertainties.
2. Geographic Distribution of Job Posts
Geographically, the US held the highest share of new job posts at 27%, a decrease of 32% from 2022. India followed with 15%, Germany 12%, France 9%, and the UK 4%. Notably, India and France exhibited strong growth in job postings at 10% and 8%, respectively, while Germany and the UK saw declines.
3. Contract Types
The majority of new job posts in the technology sector were for full-time positions, which held an 84% share, followed by temporary positions at 11% and part-time roles at 5%. All contract types saw declines, reflecting broader economic trends affecting the sector.
4. Remote Job Postings
Remote job postings in the technology industry declined by 26% in 2023, totaling 1 million new posts. The US led with 45% of remote job posts, a decrease of 43% from the previous year. France and Germany saw increased remote job postings at 85% and 25%, respectively.
5. Top Skills in Demand
Communication, management, and sales were the top three skills in demand in the technology sector, accounting for 30%, 21%, and 16% of new job postings, respectively. This underscores the continued importance of soft skills alongside technical expertise in the technology industry.
6. AI Job Postings
AI-related job postings declined in 2023, down by 26% compared to 2022, with 819,000 new posts. The peak of new AI job posts was in January, with 80,200 posts. India had the highest share of new AI job posts at 32%, an increase of 6% compared to 2022, while the US saw a decline of 46%. Our recent analysis of AI trends shows that the overall AI job market is growing, while public job listings inside the technology industry, in particular, were contracting last year over the previous.
7. Examining Individual Sectors within Tech
The technology industry is experiencing dynamic growth across all of its sectors. Leading the pack, Information Technology and Services hold a dominant 57% share, growing 19% year-over-year. Rapidly rising stars include Computer and Network Security and Computer Games, with impressive growth rates of 27% and 31%, signaling ripe investment opportunities.
Computer Software (18% share) and Internet (16% share) industries also show steady growth at 16% and 12%, driven by the constant demand for digital solutions. Even smaller sectors like Information Services grew at 23%, highlighting the increasing reliance on data processing and hosting. Emerging areas such as Wireless and Think Tanks present unique, perhaps underexplored opportunities.
8. Gender Diversity in Tech
The technology industry saw only a minimal change in gender distribution from 2022 to 2023. Female representation marginally decreased from 35.3% to 35.1%. The industry also witnessed a slight progression in gender diversity regarding representation in leadership roles. Female representation in leadership increased marginally from 31.0% to 31.4%, demonstrating a gradually shifting balance in gender.
Workforce Data Leads to Business Insights
Aura’s Industry Benchmarking Report utilizes up-to-date and objective workforce data to uncover significant shifts and trends within the technology industry.
The data reveals a vibrant and evolving industry, highlighting the dominant growth in information technology and services and the burgeoning opportunities in computer and network security and gaming. Despite economic uncertainties, the persistent demand for digital solutions and services underscores the tech sector's resilience and adaptability.
Aura's comprehensive insights empower businesses to make informed, data-driven decisions, helping them stay ahead of their competition. Learn how your business can leverage workforce analytics with a no-obligation platform demonstration.
