Arizona Technology Council's Q2 Impact Report Shows Growth in Technology Industry Wages as Organizations Compete to Fill Job Openings

Oct 11, 2022

Report Shows Arizona Technology Industry Wage Growth Up 55.4% Over the Last Three Years While STEM Job Openings Rose 106% between 2017 and 2021

PHOENIX - Oct. 11, 2022 - PRLog -- The Arizona Technology Council released its Q2 2022 Arizona Technology Industry Impact Report today, which highlights key metrics from the competitive hiring environment in Arizona's technology industry. Takeaways from the report include a 55.4% wage growth over the past three years, a 106% rise in STEM job openings from 2017 to 2021 and a 2.8% year-over-year growth in technology jobs.

"The Q2 Impact Report highlights not only the continued growth of Arizona's technology industry but also the growing need for talent," said Steven G. Zylstra, president and CEO of the Council and SciTech Institute. "The data shows that organizations are attracting highly qualified talent by offering more competitive wages, encouraging people to move to Arizona from across the country to make the most of the plentiful opportunities available in technology."

Along with the increases in technology jobs and wages, additional Q2 2022 highlights include:

The finance and insurance industry now employs the most technology workers outside traditional STEM-focused sectors. Finance and insurance industries rank third overall workers outside the professional, scientific, and technical services and information sectors.
Venture capital funding reached an all-time high in 2021 with $1.894 billion being funneled into growing Arizona startups.

The Council supplements its report with published works, blogs and interviews highlighting Arizona technology industry leaders, news from organizations across a wide range of sectors in the state's technology community and more.

Highlights of the Q2 2022 Impact Report include:

On the Council's behalf, the quarterly report is compiled by eImpact, an organization that creates web-based, data-reporting solutions designed to help cities, industries and planners drive effective policy, create new growth and engage stakeholders. The report is based on eImpact's analysis of data from Emsi, Brookings Institution, CompTIA, AngelList, National Science Board and others.

Download or view the complete report on the Council's website at http://aztc.eimpactv2.report/reports/view/5f08e79ae2cca70033382657.

About the Arizona Technology Council

The Arizona Technology Council is Arizona's premier trade association for science and technology companies. Comprised of a diverse professional business community, Council members work towards furthering the advancement of technology in Arizona through leadership, education, legislation and social action. The Council offers numerous events, educational forums and business conferences that bring together leaders, visionaries and community members to make an impact on the technology industry. These interactions contribute to the Council's culture of growing member businesses and transforming technology in Arizona. To become a member or to learn more about the Arizona Technology Council, please visit www.aztechcouncil.org.

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