· job market · 3 min read
Data Showing The 2024 Tech Job Market Is Far Stronger Than 2023
A reddit post highlights data showing for a stronger 2024 tech market
Over the weekend I read this reddit post and I instantly knew I had to write an article about it. Right now online there is so much negative sentiment (though not unwarranted) about this job market, specfically in tech.
With another class of Computer Science graduates wrapping up this Spring ‘24 I want to share something positive, while also backed by evidence, in hopes to cheer up someone’s job search.
Introduction
In the ever-evolving landscape of the tech industry, staying informed about job market trends is crucial for professionals and job seekers alike. As we navigate through 2024, it’s evident that the tech job market is significantly stronger compared to the previous year, as revealed by data from reputable sources like TrueUp.io and Layoffs.fyi. Let’s delve into the numbers to understand the positive trajectory and what it means for tech enthusiasts.
Key Findings
1. Surge in Job Openings
According to TrueUp.io, there’s been a notable surge in tech job openings, with a remarkable 29.5% increase compared to the low point in March 2023. Currently, there are 211,000 open tech positions, showcasing a steady upward trend since last year’s downturn. This positive momentum is encouraging for both job seekers and the industry as a whole.
2. Decline in Layoffs
The data also highlights a significant decline in tech layoffs year over year. Layoffs.fyi reports a decrease of approximately 20% in the average daily number of tech layoffs. In 2023, there were 263,000 people laid off, whereas in 2024, the number dropped to 81,000. This decrease, albeit varying slightly between sources, signifies a positive shift in the job market dynamics.
3. Industry Resilience
Despite the challenges faced in recent times, the tech industry has displayed resilience and adaptability. While fluctuations are inevitable, the overall trend points towards recovery and growth. It’s essential to acknowledge that progress may not always be linear, but the current trajectory indicates a promising outlook for tech professionals.
Implications and Outlook
For individuals navigating the tech job market, these insights offer valuable guidance. Whether you’re actively seeking employment or contemplating career moves, understanding the prevailing trends can inform your decisions effectively. While challenges persist, the data suggests that the industry is on the right track towards stability and expansion.
Conclusion
As we reflect on the data indicating a stronger tech job market in 2024 compared to the previous year, it’s evident that perseverance and resilience are key virtues. Despite uncertainties, the industry continues to evolve, offering opportunities for growth and innovation. By staying informed and adaptable, professionals can navigate the dynamic landscape with confidence. Let’s embrace the positive momentum and look forward to a thriving tech ecosystem ahead.
How Can TrackMyApps Help?
When I was struggling to find a tech job in this market the past couple of years I tried to use any tool I could to gain a competitive edge. This is why I created TrackMyApps, a tool to help me stay on top of applications I still needed to apply to and their due dates. I have since built additional features such as tracking an application status, this way if I’ve already been rejected for a certain application I don’t have to waste precious time seeing if my application has been reviewed.
