By Brittany Ballenstedt // April 14, 2014
Unemployment for technology professionals fell significantly in the first quarter of 2014, in large part thanks to the growth in fields like technology consulting, according to a new analysis by Dice.com.
Dice’s Tech Employment Snapshot for the first quarter of 2014 shows that the unemployment rate for technology professionals fell to 2.7 percent, after hovering around 3.5 percent for most of 2013. That figure is still above the record low of 1.8 percent unemployment that occurred in the second quarter of 2007, Dice noted.
As expected, unemployment in tech fields continues to remain far below the national average for all occupations, which was 6.7 percent in the first quarter of 2014, according to Bureau of Labor Statistics data.
One of the reasons for the downward trend in tech unemployment was the growth of the technology consulting field, which grew by more than 17,200 new positions in the first quarter. Tech consulting – which has been growing in workforce size, weekly hours and hourly earnings, according to BLS – is now made up of a workforce of more than 1.7 million. Technology consultants also earned an average pay raise of 4 percent last year, higher ...