Narayan AmmachchiThe massive tech layoff of 2022 did little damage to the US tech labor pool. Laid-off workers were able to find new jobs soon enough due to the red-hot demand for skilled professionals in the country.
According to a study by workforce intelligence firm Revelio Labs, over 30% of laid-off workers found a job within three months.
To boot, more than half of those who lost their jobs got a pay raise in their new positions.
With every economic sector going digital, the demand for software developers keeps growing. Those skilled in cloud computing, data science and cybersecurity are seeing ample opportunity.
Apparently, losing jobs in the tech sector is no longer seen as a setback. “The stigma associated with being laid off in the technology sector is gone,” stated Art Zeile, President and CEO of DHI Group.
In 2022, even though the COVID pandemic triggered unprecedented demand for technicians, thousands of US firms began laying off IT professionals, while some developers quit their jobs. Nevertheless, all free agents began to apply for new positions in the second half of the year.
In the first 10 months of 2022, there was a record 25% increase in tech job postings.
What’s surprising is the fact that the tech job market stayed very hot despite hiring freezes among industry giants like Google, Amazon, Facebook and Microsoft.
Most US cities saw high demand for technology workers during the year, although companies looked abroad for remote workers.
Add comment