According to the Bureau of Labor Statistics, the unemployment rate for technical professionals dropped 0.6 percent in May, a much bigger decline than the national average. That leaves the current IT unemployment rate at a staggeringly low 2.4 percent. And, with this sector adding almost 11,000 jobs in May alone, it’s easy to see why the available pool of technical talent seems extremely shallow, particularly in major tech hubs.
That’s why so many businesses are making the move to places like DFW and Los Angeles/Orange County! These tried and true markets have a well-established technical presence but the markets there don’t feel as strained. Why? Because these large metro areas have the most people who currently hold technical positions.
According to JLL’s recent report, these areas are a great fit for companies that need software developers. Dallas-Fort Worth is ranked fourth for the most computer programmers and eighth for the most software developers. Los Angeles-Long Beach-Anaheim is ranked fifth for the most computer programmers and seventh for the most software developers. These large concentrations of software developers and computer programmers draw in corporations who are looking to relocate in order to find the best available technical talent.
DFW seems to have a slight edge, according to the JLL Dallas Research Director Walter Bialas who said, “When you look at computer programmers and software developers, that’s just a small piece of technology. When you look at tech overall in Dallas—which would include engineers, biotech, defense, cybersecurity—we have a deep representation there. It probably doubles the numbers.” Additionally, thanks to a low cost of living in DFW and a thriving corporate marketplace, developers’ salaries stretch farther in the area which may be why so many are concentrated in DFW.
Both Dallas-Fort Worth and Los Angeles-Orange County have an established pool of technical talent that companies are eager to tap into, particularly with such a low tech unemployment rate of only 2.4 percent.