Tech Council’s Q3 2023 Impact Report Shows Strong YOY Gains in Technology Jobs, Despite Current Lull

The Arizona Technology Council has released its Q3 2023 Arizona Technology Industry Impact Report with the finding that the state’s technology jobs total has exceeded 222,000 — a 3.78% one-year gain that places Arizona third in the Southwest for job growth in the sector. The highest number of industry jobs currently are in computing, software, defense, and semiconductor. Semiconductor jobs are being bolstered by the explosive growth of the industry in the state due to Taiwan Semiconductor Manufacturing Company (TSMC), Intel and the suppliers flocking here to support these industry giants.

However, despite overall growth in technology jobs year-over-year, current job postings have dropped to 16,500. This figure is a five-year low for Arizona and reflects the cooling technology job market experienced across the United States.

“Arizona’s technology labor market is certainly experiencing a similar slow down as the rest of the nation, but we are encouraged by the fact that our defense, computing, software and semiconductor industries remain very strong” said Steven G. Zylstra, president and CEO of the Council and SciTech Institute. “Our technology ecosystem remains stable and strong due to our incredible legacy sectors and continued investment from major organizations across subsectors.”

In addition to the Arizona technology market jobs decline, a few additional data points stood out, including:

  • Honeywell and Raytheon remain exceptions in the current tech hiring landscape, with prior 30-day job postings up 60% and 21% respectively.
  • Tech industry earnings have reached $29.98 billion and 12-month earnings growth is at 9.4%.
  • Computer systems design services, semiconductor and related device manufacturing, and custom computer programming services currently hold the most jobs in Arizona’s technology industry.
  • Raytheon Technologies, Honeywell and Dacor & Associates are the top three companies in terms of hiring.

In addition to the updated data on the Arizona technology industry, the Council also supplements its report with published works, blogs and interviews highlighting technology industry leaders in the state, news from organizations across a wide range of sectors in the technology community and more.

On the Council’s behalf, the quarterly report is compiled by eImpact, an organization that creates web-based, data-reporting solutions designed to help cities, industries and planners drive effective policy, create new growth and engage stakeholders. The report is based on eImpact’s analysis of data from Emsi, Brookings Institution, CompTIA, AngelList, National Science Board and others.

Download or view the complete report on the Council’s website here.

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