{"id":6950,"date":"2024-10-07T10:23:51","date_gmt":"2024-10-07T14:23:51","guid":{"rendered":"https:\/\/theforage.wpengine.com\/?p=6950"},"modified":"2024-10-08T10:49:54","modified_gmt":"2024-10-08T14:49:54","slug":"whats-the-state-of-the-tech-job-market-in-current_year","status":"publish","type":"post","link":"https:\/\/theforage.wpengine.com\/news\/whats-the-state-of-the-tech-job-market-in-current_year","title":{"rendered":"What\u2019s the State of the Tech Job Market in 2026?"},"content":{"rendered":"\n

Technology is a buzzy industry full of exciting opportunities \u2014 higher salaries, offices with all the perks, career growth, and innovative work. For many students interested in working in tech, the tech job market might seem like a shining beacon to delve into post-graduation.<\/p>\n\n\n\n

But the tech job market is more of a rollercoaster than we may like to admit. The industry is no stranger to layoffs, but with developing fields like cybersecurity<\/a> and artificial intelligence (AI)<\/a>, new job opportunities exist. So, what’s actually happening in the tech job market right now? What can you do to land a job in tech in 2026? <\/p>\n\n\n\n

We looked at job data and spoke to tech professionals to get to the bottom of the tech job market in 2026.<\/p>\n\n\n\n

State of the Tech Job Market<\/h2>\n\n\n\n

To understand the tech job market in 2026, we have to look back into significant changes within the last five years \u2014 specifically since the COVID-19 pandemic. <\/p>\n\n\n\n

While COVID-19 led to an unprecedented unemployment rate<\/a> in April 2020, unemployment hit industries that required in-person services the most. Industries like tech, which could far more easily adjust to remote work, weren’t hit quite as hard.<\/p>\n\n\n\n

In fact, the tech job market began to soar in late 2020 and 2021. With more people staying at home, demand for online services and shopping grew exponentially \u2014 think the Pelotons<\/a> and Netflixes<\/a> of the world \u2014 and companies needed to hire tech workers to fill the demand. It was a tech professional’s market, with companies offering higher salaries and better benefits to compete for top talent. The average salary for technology professionals reached a record high<\/a> of $104,566 in 2021. <\/p>\n\n\n\n

Yet the hiring influx soon led to a string of layoffs. As people started to return to in-person activities and offices, online companies weren’t experiencing the same boom \u2014 and didn’t need the same number of tech workers to sustain their businesses. These layoffs began in 2022 and picked up steam in 2023.<\/p>\n\n\n\n

According to Layoffs.fyi<\/a>, which tracks tech layoffs since COVID-19, companies laid off the most workers in 2023. Over 1,000 companies laid off 264,220 employees, up nearly 60% from 2022. <\/p>\n\n\n\n

Tech Layoffs 2024<\/h3>\n\n\n\n

While the ripple effects of overhiring during the pandemic have slowed, that doesn’t mean the tech job market of 2024 has been without turmoil or layoffs. Since January, 451 tech companies have laid employees off, with 139,206 employees laid off overall.<\/p>\n\n\n\n

Tech layoffs in 2024 came from some of the big players, like Intel, Tesla, Google, Meta, Amazon, and Microsoft. Some laid off 10 to 15% of their staff, and some conducted multiple rounds of layoffs throughout the year.<\/p>\n\n\n\n

When Will the Tech Job Market Recover?<\/h2>\n\n\n\n

While layoffs are still happening in 2026, there are new job openings, too \u2014 indicating at least a bit of a bounce back from 2023 lows. According to TrueUp<\/a>, there are well over 200,000 open tech jobs at tech startups, tech unicorns, and public tech companies, up 18% from the beginning of the year.<\/p>\n\n\n\n

“In the last six months, there’s been a gradual recovery, particularly in fields such as AI, cybersecurity, and cloud computing, which have seen a surge in demand,” says Elle Farrell-Kingsley, tech presenter and advisor, and instructor at the Arizona College of Technology.  \u201cCompanies are focusing on digital transformation and automation, but with this comes fierce competition, requiring candidates to be more adaptable and up-to-date with industry trends.\u201d<\/p>\n\n\n\n

For example, while artificial intelligence often gets a bad rap for how many jobs it’ll replace, it’s also creating jobs in the tech industry and beyond. There are tens of thousands of artificial intelligence jobs open in 2024, a 32%<\/a> increase year over year. <\/p>\n\n\n\n\t

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Gen AI<\/h2>\n\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

Develop a chatbot to assist with financial inquiries with the GenAI team at BCG.<\/p>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t

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\n\t\t\t\t\t\tSkills you’ll build:<\/span>\n\t\t\t\t\t\tExcel, Python, Jupyter, Data extraction, Financial analysis, NLP, Chatbot development, logic\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t

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There’s also a workforce gap in cybersecurity. According to the International Information System Security Certification Consortium (ISC2)<\/a>, the gap between companies looking for cybersecurity professionals and those hired continues to grow; roughly four million cybersecurity professionals are needed worldwide, almost double the number of current professionals. <\/p>\n\n\n\n

“While demand for tech talent remains strong, the landscape has become more nuanced,” says Stefano Lodola, owner of Think Languages, an online language learning platform. “Pre-pandemic, companies were heavily focused on rapid expansion and digital transformation. But now, there’s a greater emphasis on efficiency, sustainability, and finding candidates with a versatile skill set who can adapt to changing needs. In the last six months, we’ve seen trends like the rise of AI, the need for cybersecurity, and a move toward hybrid work environments shaping hiring practices.”<\/p>\n\n\n\n

Tech Job Outlook<\/h2>\n\n\n\n

What will the tech job market look like in years to come? According to the U.S. Bureau of Labor Statistics, nearly all tech roles have a positive job outlook from 2022 to 2032, with most having a much faster-than-average job outlook.<\/p>\n\n\n\n

Role<\/strong><\/td>Job Outlook<\/strong><\/td><\/tr>
Computer network architects<\/td>13% (much faster than average)<\/a><\/td><\/tr>
Computer support specialists<\/td>6% (faster than average)<\/a><\/td><\/tr>
Database administrators and architects<\/td>9% (much faster than average)<\/a><\/td><\/tr>
Data scientists<\/td>36% (much faster than average)<\/a><\/td><\/tr>
Information security analysts<\/td>33% (much faster than average)<\/a><\/td><\/tr>
Product managers<\/td>10% (much faster than average)<\/a><\/td><\/tr>
Software developers, quality assurance analysts, and testers<\/td>17% (much faster than average)<\/a><\/td><\/tr>
Web developers and digital designers<\/td>8% (faster than average)<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

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What Tech Job Is Right for Me? Quiz<\/h2>\n\n\n