Key points from the chart
- US employment in tech software grew from about 0.9 million in 1990 to about 4.1 million by August 2024, read from the line.
- US employment in tech hardware fell from about 1.2 million to about 0.64 million over the same period, and has barely moved since about 2010.
- Software passed hardware in the early 1990s and the gap has widened ever since.
- The chart marks three shocks: the Dot-Com Bubble (2000), the Financial Crisis (2007 to 2008) and the COVID-19 Pandemic (2020). Software dipped each time and then kept growing.
- Econovis puts software job growth at a compound annual rate of 4.6% from 1990 to 2024 [1].
Hardware vs software jobs in text
Title: U.S. Tech Software Job Growth vs. Tech Hardware Decline. The chart is a two line time series of monthly employment in thousands, from 1990 to August 2024 (labelled 2024-08). The vertical axis runs from 0 to 4,500 thousand in steps of 500. The red line is Software and the blue line is Hardware. Three events are marked on the software line: 2000, Dot-Com Bubble; 2007-8, Financial Crisis; 2020, COVID-19 Pandemic. Footer: Source, U.S. Bureau of Labor Statistics; www.econovis.net; @econovisuals; Econovis logo.
The chart prints no values on the lines, so the figures below are our readings against the gridlines and are approximate.
| Period | Tech software jobs | Tech hardware jobs | What the chart shows |
|---|---|---|---|
| 1990 | about 0.9 million | about 1.2 million | Hardware employs more people than software |
| Early 1990s | about 1.0 million | about 1.0 million | The two lines cross and software stays ahead from then on |
| 2000 to 2001 | about 2.2 million (peak) | about 1.25 million (peak) | Marked on the chart as the Dot-Com Bubble |
| 2003 to 2004 | about 1.9 million | about 0.8 million | Both sectors shed jobs after the bubble |
| 2007 to 2008 | about 2.2 million | about 0.75 to 0.8 million | Marked as the Financial Crisis; software dips only slightly |
| 2010s | steady climb to about 3.5 million | flat at about 0.6 to 0.65 million | Hardware settles at roughly half its 1990 level |
| 2020 | about 3.4 to 3.5 million | about 0.6 million | Marked as the COVID-19 Pandemic; a small dip in software |
| August 2024 | about 4.1 million | about 0.64 million | Last month shown on the chart |
What counts as tech software and tech hardware
Econovis, which made the chart, defines the two groups in its write up. Tech software covers software publishing, media streaming, social networks, computing infrastructure, data processing, web hosting, web search portals and computer systems design. Tech hardware covers computer and peripheral equipment manufacturing, communications equipment and semiconductor manufacturing [1].
That split matters when reading the chart. The software line includes service businesses such as hosting and systems design as well as companies that write code. The hardware line is manufacturing only, so it tracks factory and production jobs in the US rather than every job connected to computer hardware. Econovis says hardware employment declined by nearly half between 1990 and the 2010s and has remained stable through 2024 [1]. Our reading of the line, from about 1.2 million to about 0.64 million, fits that description.
The same chart was also published by Ehsan Soltani on Voronoi, the data app run by Visual Capitalist, with the same definitions and the 4.6% growth figure [2].
The three shocks marked on the chart
Dot-Com Bubble (2000). The dot-com bubble peaked on 10 March 2000. The Nasdaq Composite then fell 78% from its peak by October 2002 [3]. On the chart this is the point where both lines peak. Software employment fell back for about three years before rising again. Hardware dropped by roughly a third and never recovered its earlier level.
Financial Crisis (2007 to 2008). In the US the Great Recession officially began in December 2007 and lasted until June 2009 [4]. The software line barely dips here and then starts the long climb that runs through the 2010s. Hardware slips to the level it has held ever since.
COVID-19 Pandemic (2020). The software line shows a brief dip in 2020 followed by its fastest rise on the chart, to about 4 million by 2022. After that the line flattens, ending at about 4.1 million in August 2024.
Notes on this infographic
- The values in the table are read from the lines, not printed on the graphic, so treat them as approximate.
- The chart ends in August 2024. It does not show what happened to tech employment after that month.
- Both series are employment counts from the US Bureau of Labor Statistics as credited on the graphic. They cover jobs in these industries, not the number of software developers or hardware engineers as occupations.
- Growth from about 0.9 million to about 4.1 million over 34 years works out at roughly 4.5% a year by our calculation, in line with the 4.6% Econovis reports [1].
Questions about US tech jobs
How many software jobs are there in the US?
US tech software employment was about 4.1 million in August 2024, read from the Econovis chart of US Bureau of Labor Statistics data. That is up from about 0.9 million in 1990, and Econovis puts the growth at a compound annual rate of 4.6% from 1990 to 2024 [1]. The chart prints no values on its lines, so these readings are approximate.
How much has US tech hardware employment fallen?
US tech hardware employment fell from about 1.2 million in 1990 to about 0.64 million in August 2024, read from the chart. Econovis says hardware employment declined by nearly half between 1990 and the 2010s and has remained stable through 2024 [1]. The hardware series covers manufacturing only: computer and peripheral equipment, communications equipment and semiconductors [1].
How did the dot-com crash affect tech jobs?
US tech software and hardware employment both peaked around 2000 to 2001, at about 2.2 million and about 1.25 million, as the dot-com bubble burst. Software fell back for about three years before rising again, while hardware dropped by roughly a third and never recovered its earlier level. The Nasdaq Composite fell 78% from its 10 March 2000 peak by October 2002 [3].
What counts as a tech software job?
In the Econovis chart, tech software covers software publishing, media streaming, social networks, computing infrastructure, data processing, web hosting and computer systems design, among other services [1]. The line therefore includes service businesses as well as companies that write code. It counts jobs in these industries, not the number of software developers as an occupation.
Sources
- Econovis, Diverging Trends, U.S. Tech Software Job Growth vs. Tech Hardware Decline (4 January 2025), the original post for this chart.
- Voronoi by Visual Capitalist, Diverging Trends, US Tech Software Job Growth vs. Tech Hardware Decline, posted by Ehsan Soltani (29 October 2024).
- Wikipedia, Dot-com bubble.
- Wikipedia, Great Recession.
Last reviewed 29 October 2026
