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Arguably the financial capital of the entire world, it stands to reason the technology industry remains vibrant in New York City. Job opportunities in the high tech field remain numerous, with the generous salaries to match due to the cost of living in the area.

With the Great Recession nearly a distant memory, continued growth and bright prospects for the future are the expectations. What follows is a look at the current IT industry trends in New York City. If living in the Big Apple seems intriguing, use this information as food for thought for a potential relocation.

New York City Technology Job Growth Continues

According to the New York state government, technology job growth continues on an upswing in the New York City metropolitan area over the previous year ending May 2017. The professional and business services and information sectors boasted 23,600 and 6,000 new jobs over that period, respectively. The overall job rate increase of 2.2 percent for the year outpaces the state as a whole and the entire country – with both at 1.7 percent.

The city’s overall unemployment rate stood at 4.3 percent in May 2017, slightly less than the overall state rate of 4.4 percent. In May 2016, New York City’s unemployment rate was 5.2 percent.

The Big Apple – an Incubator of Innovation

Silicon Valley isn’t the only technology incubator in the country. New York City’s own “Silicon Alley” is also home to industry innovations. Recently, Mayor Bill de Blasio announced the New York University Tandon School of Engineering is slated to develop and operate a hub for virtual reality and augmented reality at the Brooklyn Navy Yard.

This VR/AR hub will combine with a workforce development center at CUNY Lehman College in the Bronx. Over 500 jobs are expected to be created because of this investment, part of de Blasio’s “New York Worksplan” aimed at creating 100,000 new high quality jobs, with many of those being in the tech industry.

Other New York City IT trends match those in the rest of the country. E-commerce and mobile technology remains hot – with electronic purses and virtual wallet payment apps also growing in popularity. These innovations have led to many job opportunities in software development and QA. Of course, the financial sector is also undergoing a digital transformation with blockchain and DLT making inroads.

In short, if you work in technology, New York City is definitely a place worthy of your exploration.

Are you looking for an IT job in New York City?

When you need additional insights on the evolving technology sector, talk to the knowledgeable team at The Ceres Group. As one of the top IT staffing agencies in the Northeast, we can help take your career to its highest level to date. Contact us today to find an IT job that will advance your career.

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