Tech jobs decline as US hit with rising costs and economic instability

A number of studies reported a decline in tech jobs in September as the US continues to get squeezed by geopolitical and economic instability. Tech consortium CompTIA said 10,350 positions in the technology sector were lost in September, lower than the 14,700 positions cut in August. But economy-wide, tech jobs — which include IT roles not associated with tech sector — took a bigger hit. Tech jobs across all industries fell by about 6,000, a sharp reversal from the 86,000 added in August. CompTIA’s report is based on an analysis of the US Bureau of Labor Statistics’ September jobs report, which found that only 29,000 nonfarm jobs were added in the US in September, lower than expectations. The US added 133,000 jobs in August. Tech worker unemployment ticked up to 3.3%, but that was below the 4.2% national rate, according to CompTIA. The strong August numbers raised hopes that tech jobs were stabilizing, but September’s numbers dashed that hope. Separately, tech companies announced 10,799 job cuts in September, a 77% rise from the 6,103 announced in August, according to numbers from Challenger, Gray & Christmas. The tech sector has cut 165,925 jobs this year, up 54% compared to the …

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