Tech jobs are booming as the U.S. overall job market shrinks

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A picture taken on October 1, 2019 in Lille shows the logos of mobile apps Facebook and Google displayed on a tablet. (Photo by DENIS CHARLET / AFP) (Photo by DENIS CHARLET/AFP via Getty Images)

The high demand for skilled Information Technology workers increased in December, even as companies across the economy quit their jobs. Last month the US employers added 3,91,000 IT jobs, CompTIA inc., on the gains and losses in the sector in the coming months. 

Technology jobs have an unemployment rate of about 3%. Which is at a level the same as a year ago, which can be compared with the 6.7% overall unemployment rate

In December about 1,40,000 jobs were minimalized by companies in all sectors, seven months of growth came to an end on the back of a sharp decline in March and April the labor department reported. 

In the last month, about 22200 new job vacancies were added in the technology sector. 8600 jobs were cut in November, including technology workers, as well as sales, marketing, and other non-tech staff, CompTIA said. 

Technical teams inside and outside the technology sector become an important part of these pandemics. so, businesses run based on remote work and business continuity tools, to keep the business activities during the lockdowns and while travel restrictions. 

A global survey of 3000 corporate tech leaders by staffing company Robbert Hoff international inc; found that more than 90 percent said they plan to fill IT vacancies or create new IT positions next year. According to a survey conducted in November and December, cybersecurity, cloud, data, or database management professionals are the most sought-after workers. By the end of December U.S employees had created more than 200,000 jobs for IT workers, CompTIA said. 

The tight labor market before the pandemic forced some companies and many companies in the tech sector, to acquire small firms and startups to exploit technological talent, a strategy known as acquihiring. 

Despite the economic downturn caused by the coronavirus pandemic, companies around the world spent $606 billion on tech mergers and acquisitions in 2020, up from $476 billion in 2019. S&P Global market intelligence Enterprise, a growing technology division is a research firm. 

A total of 3995 deals were reported last year, up from 3729 in 2019, the highest volume in four years. 

This is likely to change as investors continue to pump money into mature tech startups, providing growth capital to exploit aspiring workers through acquisitions, analysts said. 

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