Arizona Tech Jobs, Wages, Average Pay Increased Over Past Year, Report Says

Article originally posted on Phoenix Business Journal on March 21, 2020

Arizona’s technology scene continues to grow and a new report shows increases in the number of tech jobs, wages and average pay in the past year.

The Arizona Technology Council’s quarterly Arizona Technology Industry Impact Report shows that in Q4 2019, tech jobs increased by almost 15,000 jobs, wages increased by $2 billion and average pay increased by a little over $3,000 compared to the year-earlier period, said Steve Zylstra, the president and CEO of the Tech Council.

“We’re delighted by almost all the numbers,” Zylstra told the Business Journal. “Almost all of the data is up. The tech industry continues to grow.”

The report, released this month, shows that Arizona’s technology jobs are growing 2.1 times faster as compared to the U.S. overall.

Here are more stats from the report:

  • Arizona now has 9,303 technology companies in operation, compared to 8,443 in Q4 2018.
  • There are 189,926 technology jobs in Arizona, compared to 172,401 a year ago.
  • Total industry wages are $19.8 billion, compared to $17.9 billion in Q4 2018.
  • In 2018 and 2019, Arizona boasted two strong years for venture capital investment, with $944 million in 2018, falling off to $864 million in 2019.
  • Technology wages in Arizona have grown 6.7% over the past year, compared to 4.6% a year earlier.
  • The average industry pay reached $85,874 compared to $82,872 in Q4 2018.
  • The only number that has dropped is employment growth. That’s was 3.1% in Q4 2019, compared to 4% a year earlier.

“Manufacturers with global supply chains are being dramatically impacted. They’re not getting some parts and are being hampered,” he said. “The more service-oriented companies’ people can work from home. This has less impact on them.”

Overall, Zylstra thinks the tech industry will see a negative short-term impact. He thinks it will probably last two to three months and then will start to ease up.

Find The Complete Article Here:https://www.bizjournals.com/phoenix/news/2020/03/21/arizona-tech-jobs-wages-average-pay-increased-over.html?iana=hpmvp_phx_news_headline

Arizona’s technology scene continues to grow and a new report shows increases in the number of tech jobs, wages and average pay in just the past year.

 

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