Software jobs expected to grow twice as fast as overall US jobs
The software industry is outpacing the overall US economy, according to a report the BSA Foundation released today.
"It's clear from our work that there is no shortage of job openings in any of a range of different software jobs, from traditional coding to emerging fields like AI and data analytics," said Chris Hopfensperger, executive director of Software.org the BSA Foundation.
As average wages for software jobs rise, evidenced in the study's 2018 increase to an average salary of $114,000 a year, those positions are growing twice as fast as all jobs across the US.
"Software is really transforming every industry, so we are seeing a demand for software workers in every economic sector, from agriculture and manufacturing and energy to healthcare," Hopfensperger said.
The US software industry grew nearly twice as fast as the rising US economy, contributing $1.6 trillion to the total value US-added Gross Domestic Product (GDP) in 2018. In 39 of the 50 states, software's economic impact grew by double digits, and in Nevada, South Dakota, and Wyoming it grew by more than 30% from 2016 to 2018. Software jobs are also growing beyond traditional tech hubs, and notably, the fastest software jobs growth for those two years occurred in Nevada, South Dakota, Wyoming, New Hampshire, South Carolina and Montana.
"Software creates jobs in every state and every economic sector-and twice as fast as the national average," said Victoria Espinel, president of Software.org: the BSA Foundation and president and CEO of BSA. "Now, we have to ensure that anyone who wants a software job can get one, regardless of their gender, race, or where they live."
According to the report, nearly one in 10 American jobs are in the software industry, supporting 14.4 million total US. jobs, up 7.3% in the last two years. (Comparatively, US jobs in general over the same period of time grew 3%.) The report tracks software's impact on the US economy with data and analysis from The Economist Intelligence Unit (EIU), explores the growth of the software industry between 2016 and 2018 and measures its contributions to value-added GDP, job growth, and wage growth in all 50 states.
"Software jobs aren't simply tech sector jobs," Hopfensperger said. "They are manufacturing jobs, health care jobs, and agriculture jobs. And as software provides new solutions in those other sectors software companies need workers who can bring real world expertise to solve new digital puzzles. That means we need more software workers in more places than ever before. "Already, though, open software jobs far outpace available workers. Business and government leaders alike must invest in technical training to help workers get the skills they need for the jobs of the future. That will ensure that software continues to deliver life-improving breakthroughs and economic gains."