Tech jobs are in high demand despite AI and layoffs

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  • A new Indeed report suggests that more people are considering jobs in software development.
  • This comes amid concerns about job losses in the tech industry, layoffs at major companies and the rise of AI.
  • One reason is high wages, said Cory Stahl, an economist and author of the report.

Although it seems like a tough time to jump into the tech industry, job seekers are still drawn to the field.

Some computer programmers and software engineers feel that AI will eliminate their jobs. And the first half of this year was dominated by recent layoffs at many of the big consumer technology companies.

However, many job seekers are still interested in this job, at least based on job seekers looking for roles related to software development.

A new report from Indeed examines the company’s job data to find out what’s happening with job-hoppers and “sector stickiness” based on the positions people are clicking on. The report found that clicking on these job listings indicates that people are “at least optimistic” about taking the next step, even if they don’t ultimately make the leap, or that they’re dissatisfied with their field. It has been pointed out that this may indicate.

According to the report, as of June, “software development and nursing jobs posted on Indeed received the most interest from workers in other occupations,” with 46% of clicks for software development jobs coming from other occupations. It was a job offer. This is higher than 33% in June 2022.

The report also found that “software developers are the least interested in leaving their field.” In June of this year, “42% of workers who reported having recently worked in software development looked at work outside their field of expertise.” By comparison, in June 2022, he It was 50%. Meanwhile, another type of technology-related category, Information Design and Documentation, had a share of 70% in June 2023.

Competitive pay and time to build skills may be a factor

Despite the popularity of software development jobs, Cory Stahle, economist at Indeed Hiring Lab and author of the new report, writes on Indeed that these jobs are “down almost 20% from pre-pandemic levels. “There are,” he told Insider. However, data from the Bureau of Labor Statistics shows that the number of job openings in the information sector, which includes some high-tech companies, is generally on the rise again after an overall downward trend in the second half of 2022. . Despite these job openings, BLS data also suggests that employment in this field has been on the rise recently. It plummeted.

Salary may be the reason job seekers consider jobs related to software development.

“It’s going to attract people from outside the field, but it’s also probably going to make it harder for people who are already in the field to go and find jobs in other fields,” Stahle said. Told. “Because it’s hard to find a job that could match their salary or even give them a raise.”

Another reason for staying in these jobs may be because of the skills the job requires.

“This dedication to software development may also be due (in part) to the highly specialized skills, training, and experience these roles often require,” the report states. ing. “Similarly, other relatively ‘thorny’ fields such as nursing care and driving often require specialized training, experience and licensure. Given the time investment often required to acquire these skills and qualifications, it is understandable that these workers would be reluctant to do so. Switch things up. ”

For others, taking the time to acquire technology skills is what draws them to these jobs.

“There may be cases where people have been training for several years, trying to get these jobs, and now they’re at a point where they’re starting to look for jobs as well,” Stahl said.

Indeed’s report says, “Decreasing software development opportunities and growing concerns about layoffs are also impacting some currently employed software developers, making them less likely to seek out outside their own departments. This may be leading to a decline in outbound click share.” . ”

Layoffs and layoffs in the information sector remain relatively low, from 1.3% in May 2019 before the pandemic to 1.1% as of May of this year, according to data from the Bureau of Labor Statistics. The same holds true for employee turnover, which was 1.3% in May, lower than the 1.8% turnover rate in May 2019, May 2021, and May 2022.

Job seekers interested in tech jobs seem to be ignoring concerns about the declining number of job openings, recent layoffs, and the future of AI in the field.

“I think there is an expectation among many job seekers that software jobs will continue to be good, high-paying careers,” Stahle said. “When it comes to things like AI, there’s still a lot to see about how it’s going to play out. Obviously there’s a lot of productivity and future potential that can come from it. But , I think it remains to be seen how that will actually impact the labor market and these jobs.”

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