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Is Tech Employment Drying Up?

July 26, 2022

Tech is a challenging, demanding career. But, it has its compensations.

Tech careers are intellectually rewarding, with constant opportunities to learn new skills. Tech jobs can also be deeply satisfying, offering employees a chance to solve real-world problems and make an impact.

And, let’s get real–tech employment is known to be one of the most reliable, predictable sources of well-paid and long-term career opportunities. Serious students mapping their futures often begin and end at the STEM professions–why look any further, when the science and technology fields offer so many lucrative possibilities?

Perhaps this is why recent news of tech layoffs and hiring slowdowns have thrown such a chill on the industry. Undergrads and grads alike are wondering: did I choose wrong? Is it too late to correct course? What do I do now?

Of course engineering has always gone through cyclical ups and downs, often tied to world events and the vagaries of the defense industry. But other tech? Medical technology, biotech, industrial science, energy and power technology, applied science in construction, transportation, and safety fields? They are all critical to the advancement of civilization as we know it. How could hiring in these fields ever be put on pause?

Relax.

Although individual companies may in fact be scaling back for reasons of their own, it is important to focus on industry trends as a whole. And the fact is, while 30,000 tech workers may have been let go so far this year, millions of tech jobs will need to be filled within the next 3 years. For you non-math majors out there, that means a big ONE percent of tech job openings between now and 2025 may be filled by this year’s displaced tech workers. The other 99% of openings? They are begging for applications.

And the average salary for all STEM workers is over $100,000.

Everyone knows that computer systems analysts, information research scientists, software developers and other traditional IT-focused positions are golden. Jobs go begging in these fields due to a lack of trained applicants.

But only about half of all STEM workers are employed in computer-related jobs. There are plenty of opportunities for such workers in fields as diverse as:

  • Construction management. Technology has revolutionized the design, construction, and operation of modern buildings. Both undergraduate and graduate degrees are available in the field right here at Capitol Tech. Openings for manufacturing and construction management grads are expected to grow faster than average for the next 5 years;
  • Cyberpsychology. Capitol Tech is actually in the vanguard in this area, one of the few institutions to offer an advanced degree in this burgeoning new field. Think Facebook is going to be hiring FEWER analysts to evaluate threatening posts? At this point, social media and all large corporations are all eager to hire experts who can assist in evaluating the mental stability of certain members of the public;
  • Occupational health and safety experts. Many people have never considered how improved infrastructure and procedures have made workplaces much safer today than they were for our parents and grandparents. It’s much less common today to read of a worker crushed or maimed on the job. With job titles and categories constantly changing, it takes educated management to ensure that human factors and hazardous physical settings do not collide to create dangerous working conditions.

So next time you hear of a large company divesting itself of a phalanx of tech workers, carry on without a backward glance. STEM graduates continue to be among the most coveted hires in industry today, and you’ll be in the driver’s seat when it’s time to start your career.


Works cited

Ryan, B., Ryan, Virginia, Kendall, Pete, iD Tech, Moore, J. R., Brooke, Vince, & Alycia. (n.d.). Stem education stats for 2022: Facts on Jobs & Careers, Shortage & Minorities. iD Tech. Retrieved July 26, 2022, from https://www.idtech.com/blog/stem-education-statistics

Kunthara, S. (2022, July 21). Tech layoffs: US Startups and tech companies with job cuts in 2022. Crunchbase News. Retrieved July 26, 2022, from https://news.crunchbase.com/startups/tech-layoffs-2022/

Ryan, B., Ryan, Virginia, Kendall, Pete, iD Tech, Moore, J. R., Brooke, Vince, & Alycia. (n.d.). Stem education stats for 2022: Facts on Jobs & Careers, Shortage & Minorities. iD Tech. Retrieved July 26, 2022, from https://www.idtech.com/blog/stem-education-statistics

What stem careers are in high demand? - ORISE. Oak Ridge Institute for Science and Education. (2022, February 28). Retrieved July 26, 2022, from https://orise.orau.gov/resources/stem/professional-development/finding-an-internship/what-stem-careers-are-in-high-demand.html