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June Jobs Report: Impact on the IT Market in Colorado and Texas

Updated: Jul 10

The June 2024 jobs report revealed mixed outcomes for the U.S. economy. The US unemployment rate rose to 4.1%, the highest since November 2021. While there were over 200,000 new tech job postings, that figured dropped slightly on a month-over-month basis. Larger tech markets are performing better in the current market. San Francisco and Denver had substantial gains in the number of job postings from May to June. California, Texas, and Virginia recorded the largest number of June job postings.



Colorado IT Market

Colorado, specifically Denver, experienced significant growth in tech job postings. Denver saw a 13% increase in IT job postings, ranking second nationally for this metric. Colorado's tech focus on innovation and startup culture has contributed to the recent surge in demand. The state is now ranked tenth for tech job postings, indicating strong demand for IT talent.

 

Texas IT Market

Texas continues to be a powerhouse for tech employment. The state is the 2nd largest market for total tech job postings. The three largest cities (Dallas, Houston, and Austin) all show. Dallas is ranked third nationally for tech job postings, highlighting its critical role in the state's tech economy. Houston and Austin also feature prominently, with Austin in the top 20 for tech job postings.

Broader Impact

 

Despite the growth in tech job postings, the IT unemployment rate jumped to 3.7%. This reflects broader economic uncertainties and cautious hiring strategies by employers. Factors such as AI FOMO (Fear of Missing Out) contribute to a wait-and-see approach in tech hiring​ ​. Nonetheless, the demand for tech professionals is critical for thriving in a troubled labor market.


About IQ Clarity: Your Strategic IT Hiring Partner

At IQ Clarity, we understand the challenges employers face in finding the right IT professionals to meet their business needs. That's why our team offers comprehensive IT recruiting solutions that streamline the hiring process and connect employers with top talent. With our extensive network of skilled IT professionals, employers can access a pool of pre-screened candidates and make data-driven hiring decisions. Trust IQ Clarity to be your partner in navigating the dynamic IT job market and finding the perfect fit for your IT needs.

 

About Ted Hellmuth

As the Founder & GM of IQ Clarity, Ted is continuously seeking to disrupt the technology recruiting industry. He has over fifteen years of experience helping Colorado companies find solutions to their most complex technology and talent acquisition initiatives. Prior to starting IQ Clarity, he was a Talent Acquisition Consultant for Comcast / NBCUniversal. He also spent more than a decade with one of the world’s largest staffing firms. Ted received a Bachelor’s Degree from the University of Colorado at Boulder and his MBA from the University of Colorado at Denver. While he is not scouring the web for top engineering talent, Ted enjoys spending time in the mountains with his wife and three children.

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