If you’re anything like us, you probably spent the last few weeks of August pushing the definition of “summer hours” to its limit (relax, 3.5 hours totally counts as a workday). But have no fear, our latest Tech Recruiter Report will get you up to speed on what’s been happening in the industry.
Economic outlook: the typical August slowdown
The U.S. Bureau of Labor Statistics reported another month of positive job growth in July, with total nonfarm payroll employment increasing by 151,000. Computer systems design and related services contributed approximately 4,600 positions, accounting for just over three percent of total job growth.
This marks a rather steep decline from the 250,000+ positions added in June and July, but it’s worth noting that lackluster growth in August is nothing new. Since 2010, August has accounted for the lowest average monthly job growth of the year. It’s also the most difficult month to get right, averaging a revision of +72,000 jobs each year since 2011. Was job growth slower than the early summer months? Almost certainly. But it’s also a near-guarantee that the figure will be revised in October, so we’ll have to wait for the final tally.
The unemployment rate remained unchanged at 4.9 percent, which has been a fairly common theme of late. Strong growth has encouraged many disenfranchised job seekers to reenter the market, increasing the total labor force participation rate. While this slows the decline of the unemployment rate, it isn't cause for concern. If anything, it signals increased optimism within the American labor pool. Average hourly earnings for all employees on private nonfarm payrolls continued its upward trend in August, increasing by 3 cents to $25.73. Over the year, average hourly earnings have risen by 2.4 percent.
Java was the second-most in-demand language, with Python, Ruby and front-end dev rounding out the top five.
The money is flowing
Curious as to how those startups in your neighborhood have the money to finance murals from obscure Scandinavian street artists? Or how those guys across town can afford stadium bean bag seating for their in-office juice bar? Our writers just wrapped up a series on funding across our markets that may be able to shed some light on the topic. They tallied total funding from August 1, 2015, to July 31 of this year, and broke down their results by zip code with an interactive map that lets you get as granular as your heart desires. LA topped the list, due in large part to Snapchat taking time away from its regularly-scheduled quest for world domination to raise $1.9 billion on its own, but all five markets posted eye-popping numbers over the past 12 months. Make sure to check out what’s happening in your neck of the woods.
- Austin - $778 million
- Chicago - $2.1 billion
- Colorado - $620 million
- Los Angeles - $5 billion
- New York City - $3.1 billion
Programming language to watch
“Scale” is on pace to be the buzzword of 2016, so it’s only fitting we shine the spotlight on an increasingly popular language that embraces every entrepreneur’s favorite catchphrase.
Scala, short for Scalable Language, is a general purpose programming language (GPPL), and a close relative of Java. Though not as popular as its more well-known progenitor, Scala is quickly becoming a staple of the software development world thanks in large part to its syntactic flexibility. On a line-for-line basis, Scala can be a touch complex, but that one line of Scala can do the work of several lines of Java.
As a GPPL, Scala powers everything from genome sequencing tools to online chess games, and is becoming a language of choice for server-side development. Anyone who’s been paying attention to our communities has noticed the recent addition of Scala to our Developer/Engineer job category as more of our partners look to add this skillset to their teams.
So there you have it. All the news-of-note happening right now. Convenient, right? And If convenience happens to be your thing, you can always subscribe to our blog to have the latest news and insights in tech recruiting delivered straight to your inbox. Now, get out there and make the most of the last few weeks of summer! And don’t worry. If anyone asks where you are, we’ll cover for you.