Forrester has just published our forecast for US tech employment and compensation (see “2019 US Tech Talent Market Outlook”). It has some foreboding news for CIOs and for tech vendors: Tech talent will be harder to find and more expensive over the next two years.
The good news is that the supply of tech workers has largely kept up with demand — annual wage growth for tech workers has generally hovered between 2.0% and 2.5% since 2015. But the current data available for 2018 suggests that wage growth is starting to accelerate. This acceleration poses a special threat to CIOs, who could find themselves paying premiums for certain tech roles in high demand.
Here’s a summary of our forecast for the US tech labor market over the next two years:
Tech employment growth will slow to 1.7% in 2019 before recovering to 2.4% in 2020. The growth of tech employment, as estimated by the Bureau of Labor Statistics’ (BLS) Occupational Employment Statistics (OES), has grown by rates slightly above 2% over the past two years.
More of the Forrester post from Andrew Bartels
