Tech employment fluctuations have calmed over the past few months as layoff announcements from large public technology companies slow. Revised seasonal tech employment was 3,095,000 in June, the same figure as in April and May, according to the June jobs report released Friday by the Bureau of Labor Statistics. Employment was up slightly in the second quarter from the average tech job levels for January through March of 3,093,000.
Aggregate tech layoffs this year total just over 151,000 lost jobs, with 86% of those losses among public tech companies and 14% among private tech companies, according to Crunchbase. Given the size of many publicly listed tech companies, this split supports the notion of some resilience within the middle market technology ecosystem.
However, of the 4,500 tech workers laid off in June, just under half (49%) were from private companies. While the overall magnitude of middle market tech layoffs in June was 2,200, the middle market impact is not significantly elevated from previous months (1,600 in May and 2,300 in April). Still, the shift of the layoffs toward the middle market is something to keep an eye on.
