COVID's Impact on the Tech Job Market
Article by JobTerix - 7/3/2021
World economic growth has been crushed by the current Coronavirus pandemic. There have been hard times in every sector, and the IT industry is not an exception. Despite this, if we take a closer look we can see that the crisis has stimulated some areas of need. The economic crisis has created many new jobs in the tech sector.
What A Difference A Month Makes
If we take an example of the US only then, according to the Wall Street Journal, job postings at U.S. companies for enterprise-technology positions dropped by almost 70,000 in February, after rising by 52,000 in January. If you look around the world, you will find that developers, engineers, project managers, and other tech workers have fallen in demand overall.
On the other hand, certain skills sets are likely to continue to drive hiring due to the pre-existing talent shortage. Among the most in-demand positions are:
*Data Analyst, Scientist, Engineer
*Business Intelligence Analyst
*Quickly Emerging Talent Needs
*Developers (web, software, mobile)
There is no way to predict what trends might emerge at this time, but certain niches will undoubtedly have to hire new tech staff. In recent years, subscriptions to remote work and video conferencing platforms have skyrocketed. As a result of increased demand for Zoom services, it recently announced it would expand infrastructure and hire IT staff.
The duration of the current COVID-19 lock-downs is anyone's guess, but more people are logged on concurrently than ever before. Netflix and YouTube have both announced lowering the bit rates of their streaming services.
It is certain that companies are constantly looking for ways to improve quality without adding more stress to their operations. As a result, edge computing and content delivery networks (CDN) will become more commonplace in applications where latency is an issue (gaming, video streaming, etc.).
IT Job Market Rebound
Nowadays, almost every company is to some degree a technology company. More and more people are likely to stay at home as this trend accelerates. Even more, transactions will be conducted online as people continue to consume goods and services. Due to the increase in demand, Amazon has hired 100,000 additional workers.
In the future, we may see an increase in demand for tech workers across the board. A temporary window of opportunity has opened up during the current economic crisis. This is a great opportunity for IT workers to hone their skills. The job market is more stable now, which makes it an excellent time to hire more tech staff. However, this will probably only last a short while.
There are still many opportunities for new leaders to thrive following the digital revolution. The key to success will remain good talent.