Where Did All the Tech Jobs Go in June?
Tech hiring is mixed.

Tech jobs got a slight uptick in the month of June, according to the closely-watched monthly jobs report released on Friday morning from the Labor Department. 

Tech-related sectors added 2,500 jobs in June, or 0.2%, according to the Labor Department's report. For the previous month, jobs across the telecom, data processing, and other information services sectors were flat. 

Jobs in the telecommunications sector dropped by 0.7%, or 700 jobs, month-over-month to 760,000. Telecom jobs have trended down over the last year, dropping from 799,200 jobs in June 2016. 

Data processing, hosting, and related services jobs got a 0.9% boost, or 900 added jobs, from last month to 303,200 in June. Jobs in data processing and hosting have been on the rise in the past year from the 300,400 jobs the sector had a year ago. 

The BLS's category of 'other information services jobs' climbed a notable 2.3%, or 2,300 jobs, from May to 273,600 in June. Jobs in this sector have climbed significantly in the past year from 259,300 jobs in June 2016. 

Overall, the U.S. economy added 222,000 jobs in June, above the expected 178,000 jobs. The unemployment rate rose slightly higher to 4.4%, vs. expectations for it to remain at 4.3%. 

A number of tech companies have gone through rounds of layoffs in the past year in order to restructure around their more successful businesses. 

On Thursday, Microsoft (MSFT) confirmed that it was laying off employees to focus on its cloud software business. While the Redmond, Washington-based company hasn't said how many workers are expected to be let go, estimates have pegged it at as many as 3,000, with most of them occurring overseas. In March 2017, Microsoft employed 71,000 people in the U.S. and 121,000 worldwide. Previously, Microsoft laid off 4,700 employees in 2016, according to an SEC filing. 

Intel (INTC) went through a similar restructuring in April 2016 when it laid off 12,000 employees, or 11% of its employee total, in order to focus more on cloud computing and the Internet of Things (IoT) rather than PCs sales. Intel predicted that the job cuts would end up saving the company $1.4 billion per year starting in 2017. 

Other tech companies that have laid off workers in the past year include Cisco (CSCO) , which is laying off an additional 1,100 employees after previously announcing a layoff of 5,500 people (7% of its workforce) in August 2016. IBM (IBM) cut 5,000 employees in March 2016 and followed it up with an undisclosed amount of additional layoffs in May 2016. HP Inc. (HPQ) said in October that it would lay off 3,000 to 4,000 employees (about 6% of its workforce) over three years. 

Cisco is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells CSCO? Learn more now.

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