The tech industry is now full of frowned faces. Equity and cryptocurrency prices are declining, raising concerns.I feel like I get news from a technology company or start-up company every day. Dismissal of workers Or put Pending recruitment.. It happened again on Tuesday when the cryptocurrency exchange Coinbase said it was cutting 18% of its workforce.
The pain for those who have lost their jobs is real, but behind it is this big picture. That’s still the case, at least for now, for tech companies’ job markets and people with high-tech skills.
The unemployment rate in the United States for high-tech jobs varies from tiny to non-existent. As soon as a company announces a layoff or layoff for people with those skills, ZipRecruiter will find and hire other employers, according to career website labor economist Julia Pollak. I see that. On average, each technician looking for a job offers more than one job, Robert Half, a dispatch company, told me.
“When people say things are slow, I ask,’What data?’,” Said Ryan Sutton, district president responsible for Robert Half’s technology recruitment. “Everyone wants to say that the stock market is declining. Well, the stock market is not always an indicator of employment.”
Those who specialize in tech jobs said hiring has slowed in some regions as stock markets have fallen and there is growing concern that the recession is imminent.
But they now say that the worst thing you can say about the tech employment market is that it has shifted from madness to just nuts.
The market for tech talent, and the market for workers of all types of tech companies, is so hot that even recruiting specialists are constantly headhunting. Whenever Georgia Frazier, a recruiter for rental real estate startup Divvy Homes, talked to new recruiter candidates this year, they tried to convince Frazier to work for the company instead.
There are two major reasons why workers are maintaining demand. There is a long-term tendency for companies to hire more technicians, and the number of qualified candidates has not caught up. In addition, hiring by many tech companies has been catching up since the first few months of the pandemic, where many companies froze hiring and fired employees, hiring staff when the business did not collapse. I had to hire.
In a great article published in February, Susan Dominus, a staff writer for The New York Times Magazine, captures the power of tech workers to jump from work to work, demanding and receiving the rewards and working conditions they desire. I did.
“I was really impressed with one technical recruiter who happened to leave nothing behind,” Dominus told me. “Even if someone accepts the offer, she continues to recruit the position in case that person receives another better offer.”
There are signs that the hiring of technicians has reached its limit and has cooled down. Shauna Swerland, CEO of Seattle recruiter Fuel Talent, said some major tech companies suddenly suspended hiring plans for specific positions and talked to job seekers during a second or third interview. Said I saw you finish.
A handful of companies like Coinbase, twitter When Redfin Have Canceled a few jobs From the people who accepted them.Technical recruitment specialists are in recession Pandemic.. As Coinbase said on Tuesday, some companies could have hired too many people last year when technology was booming.
Technician coach Stephanie Siccone Nasimento said she was surprised when the company recently pulled out a contract offer from a candidate with whom the company worked. (Jobs remained.) “After the pandemic, there was a moment when candidates had a great deal of power to seek what they wanted,” said Ciccone-Nascimento. “It’s pretty much reversed.”
Slightly less power over employers can be confusing to technicians, but don’t feel too sorry for them.
More people are employed in tech professions than at this point a year ago, according to US government data on several categories of tech jobs analyzed by ZipRecruiter’s Pollak for me.Even Elon Musk, who was worried about the economy this month and said Tesla needs to cut down on office workers, automakers The number of employees may increase in one year Than now.
According to Sutton, about half of the engineers Robert Half speaks haven’t changed jobs for several years. He said they are probably earning less than new hires because of soaring technical compensation over the last few years. (Yes, he says many high-paying technical workers may have low wages.)
Ciccone-Nascimento said he advised technicians to continue their current job if possible, but this moment is seen as a blip of mania demand for tech professionals in many disciplines. .. “I always have a job,” she said.
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