Technical crisis: laid-off workers find new jobs very quickly

The new technology sector is not doing so badly. Despite the cuts in the workforce in recent months, the labor market across the Atlantic continues to be driven by favorable dynamics, according to the latest report from the specialist platform ZipRecruiter, shared by The Wall Street Journal.

Skills in demand

On average, 79% of newly hired tech workers took less than three months to find a job, and 40% of them took less than one month. Figures that illustrate the liquidity of the job market in the United States in the sector of new technologies, despite the massive layoffs of recent months.

“Despite the widespread layoffs, hiring freezes, and cost-cutting taking place in the tech sector, many tech workers find a job remarkably quickly. They remain the most sought-after workers with the most in-demand skills”analyzes Julia Pollak, Chief Economist at ZipRecruiter.

Overall, the labor market has been slightly declining recently, but nevertheless benefits from low unemployment across the Atlantic (3.7%) and steady demand for recruitment.

Mass layoffs of companies

According to the ZipRecruiter survey, more companies are hiring in the field than they are firing. For months, the major US technology companies have been aggressively cutting costs. Actions that often result in financial layoffs. This is the case with Amazon, Meta (Instagram, Facebook, WhatsApp), Twitter or even HP in particular.

The crisis, caused by the drop in consumer demand and galloping inflation since the end of the pandemic, accentuated by the war in Ukraine since February, has weakened the sector. But the layoffs of large groups give smaller companies the opportunity to make up for their lack of staff.

In detail, the technology subsectors of consulting, financial services and aerospace are seeking more new profiles, according to the Indeed platform. “For tech jobs, the economic climate and labor market remain relatively healthy”explains Scott Dobroski, expert in careers in the company to our colleagues.

Finally, laid-off tech workers looking to retrain regularly choose companies in retail, financial services and healthcare, according to ZipRecruiter.

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