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Strong Decade of Growth for NJ Technology Industry

CompTIA Cyberstates 2020 reveals tech’s employment and economic impact

Information technology (IT) employment in New Jersey has surpassed 340,000 workers, with nearly 4,400 net new jobs added in 2019, according to Cyberstates 2020, a guide to the U.S. tech industry, occupations and trends published annually by CompTIA, the leading trade association for the global IT industry.

Net tech employment in New Jersey is estimated 342,795 workers. In 2019 4,383 net new jobs were added, an increase of 1.3% over 2018. Tech-related workers now make up 8% of the state’s workforce. New Jersey has nearly 16,000 tech business establishments.

The tech sector accounts for an estimated $56 billion of the state’s economy, or 9.6% of total economic output. It is the ninth highest dollar value contribution among the 50 states and the District of Columbia.

“Technology powered job growth and economic gains in the past decade in New Jersey and across the county while delivering countless benefits in how we work, communicate, create and share,” said Todd Thibodeaux, president and CEO of CompTIA.

“Looking ahead, the need for professionals from all backgrounds to develop, support, and protect these technologies will continue to grow,” Thibodeaux added. “In these trying times it is often difficult to think beyond today, but we must remain committed to preparing the workforce of tomorrow for success in whatever the future may hold.”

New Jersey ranks 14th nationally in net tech employment.

“The labor market for technology professionals was extremely tight during 2019, with unemployment nationwide at historic lows throughout periods of the year,” said Tim Herbert, executive vice president for research and market intelligence at CompTIA. “This speaks to the broad-based demand for tech talent across regions, industries and employers looking to capitalize on innovation that was once in the realm of science fiction, but increasingly reality.”

In fact, positions in emerging technologies accounted for 18.7% of all tech job postings in New Jersey last year.

The estimated median tech occupation wage in New Jersey is $95,308, 87% higher than the median wage for all occupations in the state.

Cyberstates 2020 is based on CompTIA’s analysis of data from the U.S. Bureau of Labor Statistics, U.S. Bureau of Economic Analysis, Economic Modeling Specialists International (EMSI), Burning Glass Technologies, Hoovers and other sources.

To access more business news, visit NJB News Now.

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