Information technology is still the ‘king of the profession’ in 2023 despite the wave of layoffs being ‘sweeping’

Tech companies like Amazon, Google, Meta and Microsoft are all laying off employees, but according to Indeed’s latest rankings, the job prospects for candidates in the tech industry are vast. This will be one of the best industries in 2023.

Eight out of the 10 “best jobs” in the US are tech-related jobs. Specifically, full stack programmers took first place, followed by data engineers, cloud engineers, senior product managers, back-end developers, and reliability engineers, respectively. trustees, machine learning engineers and product designers.

Also according to this report, 44% of the 25 best jobs are in technology and engineering. Scott Dobroski, Indeed’s career trends expert, says the technology’s capabilities extend beyond the traditional tech giants. Sectors such as retail, finance, professional services, travel and tourism all need technology to run their businesses and build brands online.

“ A lot of companies are asking for tech skills in their employees,” says Dobroski. So now, every company is a technology company .”

The fact that tech positions remain an attractive industry in 2023 seems absurd at a time when Big Tech has been cutting staff in recent weeks. On January 20, Google announced plans to lay off 12,000 employees, the largest reduction in the company’s 25-year history.

Microsoft said that, by March 31, it will also lay off 10,000 employees. In early January, Amazon also announced that it would cut 18,000 employees and Meta cut 13% of its total staff, equivalent to 11,000 people in November 2022.

According to CNBC, in some cases, layoffs are the result of overemployment during the pandemic and this is not a sign of an economic recession. Mark Zuckerberg, CEO Meta and Andy Jassy, ​​CEO of Amazon all hinted at massive hiring and rapid growth when Covid-19 took place as the basic reason for the plan to cut staff.

Many experts think there could be a recession in the US. The Federal Reserve is raising interest rates in an effort to control soaring inflation. However, labor market indicators do not suggest an impending recession. Overall, this is a good time to get a job, economists say.

Job openings (a measure of employers’ needs for workers) and the rate of workers leaving voluntarily (a measure of confidence in their ability to find a new job) are nearing high levels. most in history. Wage growth remains strong, especially for those shifting jobs, and unemployment is at a five-decade low.

Wage growth in the US is at an all-time high, especially for those shifting jobs. Photo: CNBC

Julia Pollak, chief economist at ZipRecruiter, thinks tech skills are in “high demand across the entire economy”. Pollak says government agencies, aerospace companies, healthcare systems and retailers are among the companies most frequently hit by shortages of software engineers, cybersecurity experts, and data analysts. and web designers.

“If tech companies continue to grow at the breakneck pace of 2020-2021, they will monopolize talent in the tech industry and drive employers in non-core industries,” Pollak said. Technology cannot hire people. For now, other industries may have an opportunity.”

Indeed data shows that tech-related jobs are in the top 25 the most, with average salaries ranging from $104,000 to $174,000.

According to Indeed, this is not only good news for experienced techies, but also a “big sign” for newcomers and those looking to switch jobs.

Reference: CNBC