South Florida has strong growth in technology employment

South Florida shows strong growth in tech jobs

Austin is widely recognized as a national technology center, but guess who is just behind it in tech employment? South Florida.

The new Computing Technology Industry Association Cyberstates report shows Austin had 154,884 tech jobs to rank No. 18 nationally, while the Miami metro area was ranked No. 19 with 148,489. South Florida ranked ahead of another widely hailed innovation hub, Portland, which was No. 20 with 136,803 jobs. A major caveat, though, is South Florida is a much larger urban population, so the percentage of people employed in technology is lower.

South Florida ranked 13th nationally with 4,262 tech jobs added in 2018 and its 3.0 percent increase ranked 15th. The national increase was 2.3 percent. The report’s authors predict a continued tight labor market for technology employment in the state.

One huge jump for South Florida was a 130 percent increase in emerging technology job postings. One example of emerging technology would be Magic Leap of Plantation, which is a national pioneer in augmented reality systems.

The tech sector contributed $22.3 billion to the region’s economy, about 7.2 percent of the overall total. Median tech wages were $67,820, which were close to the average nationally but 79 percent higher than the median wages in the state.

Florida overall added more than 18,147 new tech jobs in 2018, up 3.3 percent, and the tech sector increased its contribution to the state’s economy, according to Cyberstates 2019,  which is marketed as the definitive guide to national, state and metropolitan area tech sector and tech workforce analytics. It is published annually by CompTIA, the leading technology industry association.

Since 2010 net tech employment in Florida has grown by more than 104,000 new jobs. With nearly 568,000 workers, tech accounts for approximately 6.1 percent of Florida’s workforce.

“Clearly the broad-based impact of the tech industry touches virtually every community,  industry and market across Florida, especially when you consider the thousands of knowledge workers who rely on technology to do their jobs,” said Todd Thibodeaux, president and CEO, CompTIA.

“The sun is shining on the tech industry of Florida as the state ranked second nationally with a net tech employment increase of 18,147 jobs,” said Sarah Matz, director of state government affairs for CompTIA in Florida. “Florida’s tech wages are now 86 percent more than median wages across the state, and the tech sector contributes $71 billion to the state’s economy. The state’s elected officials are taking great strides to ensure the Florida remains a leader in attracting and retaining technology businesses. Through workforce development initiatives and responsible tax law, the Sunshine State will ensure a bright future for all its residents.”

Cyberstates projects the base of tech occupation employment—a subset of net tech employment will grow by 10.7 percent in Florida by 2026. Retirements will add even more pressure to meet the need for tech talent.

“The findings attest to a tech labor market that will remain tight as employers balance short-term needs with an eye towards the future,” said Tim Herbert, senior vice president for research and market intelligence at CompTIA. “As digital-human models begin to unfold, employers and employees alike will face new challenges—and opportunities, in shaping the workforce of tomorrow.“

A recent survey by SunTrust, which is one of the largest banks in Florida, found technology to be a key worry among middle market businesses. Technology was a top barrier for achieving business goals for 54 percent of middle market businesses, a 14-point increase from last year. The survey found 77 percent of middle market business plan to invest heavily in training that will empower their current workforce to acquire new skills and fill new roles.

 More from Cyberstates

  • Florida ranks 4th nationwide in net tech employment; 2nd in net tech jobs added last year; and 4th in the Cyberstates Innovation Score, bases on venture capital investments, tech startups and new business formations and other factors.
  • Tech occupations with year over year growth in Florida included software and web developers (+ 5 percent): computer support specialists (+ 4 percent); and network architects, administrators and support specialists (+ 3.1 percent).
  • The median tech occupation wage in Florida is $69,226; 86 percent higher than the median wage for all occupations in the state.

Cyberstates 2019 (#cyberstates) is based on CompTIA’s analysis of data from the U.S. Bureau of Labor Statistics, the U.S. Bureau of Economic Analysis, EMSI, Burning Glass Technologies Labor Insights, and other sources. Estimates for 2018 are subject to change as government data is revised and updated. The full report, with complete national, state and metropolitan level data, is available at https://www.cyberstates.org/.

 

 

 

 

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