As of July 2019, the Dallas/Fort Worth (DFW) Area ranked as the fifth-largest tech labor pool in North America, with almost 170,000 tech workers in the area. This number was up by 15% since 2013.
DFW Tech Degrees Take the Lead
Recent reports found that the DFW area was up 98.5% in tech degree completions from 2012 to 2017, which was the most significant amount of tech degree completion seen during that time frame. The area is rated #8 in North America for the number of tech degrees obtained each year, with 6,503 tech graduates finishing their studies at local universities in 2017. More and more top tech graduates bolster the workforce for the area, creating a strong talent pool to choose from.
Ages 20-29 Demographic Growth
As the number of graduates continues to increase, the number of twenty-somethings entering the workforce also gives way to DFW's top young talent. Young people between the ages of 20-29 grew as a demographic from almost 15% between the years 2012 and 2017, which is the most substantial percentage change in North America, and far ahead of the typical U.S. average of 2.5%.
Demographic growth in the DFW Area may be attributed to several factors, but predominantly due to the standard of living: The rent-to-wage ratio in the area is at 13.9%, placing DFW at the top of most rent-friendly labor pool markets for tech workers.
DFW is also a favorable market that continues to draw in entrepreneurs and incentivizes companies to make a move to the area. As businesses continue to migrate in DFW, the movements draw more young tech talents, and the cycle of growth continues to spur massive prosperity in the area.
Tech Growth Keeps Rising
The ongoing trends of corporate relocations, emerging startups, and young tech professionals entering the workforce in the DFW Area are not going to slow down anytime soon.
The DFW area gained a slot on the seventh-annual Scoring Tech Talent Report, which ranks 50 U.S. and Canadian tech markets according to their abilities to grow and foster tech talents. Scores get calculated based on 13 individual metrics that include the supply of tech talent available, growth in each area, cost, the concentration of expertise, and more.
Other cities that boast larger tech labor pools than DFW include New York, the San Francisco/Bay Area, Washington, D.C., and Toronto. However, DFW is ahead of other larger competitors that include Chicago, Atlanta, and Boston.
National growth in the tech workforce and job markets owes itself to the increase in what can be referred to as lower, "opportunity markets." Cities like Des Moines, Iowa, and Louisville, Kentucky generated substantial gains in talent, revenue, and wage growth opportunities over the last five years. As the available tech talent pool in large cities dwindles, employers will continue to draw from smaller upstart markets in the U.S. and Canada.
The tech talent pool in the United States has also grown by 16% in the last five years. Compared to an average of 9% of all other professions within the country, that type of growth is unprecedented. Yet even the deepest of talent pools can be quickly depleted of resources and qualified labor. Many markets within the country offer excellent labor pools that are untapped and possess high-growth potential. As tech markets, these can be ideal for small operations, startup companies, and tech positions in non-tech companies such as media and service firms that comprise at least two-thirds of the pool of tech labor jobs.
Let ICS Guide Your Search in DFW
At Infinity Consulting Solutions (ICS), we believe that technology cannot replace the personal relationships candidates have with our recruiters. Let us provide you with our flexible workforce solutions to meet any challenge you might be facing. ICS works with companies across Dallas to ensure offices through the area staff the most qualified professionals available. Click the link below to start your talent search now.