The tech job market is rapidly changing in many ways—including the skills hiring leaders are looking to prioritize most. In other words, 87% of hiring leaders today are looking for AI experience in candidates, according to the most recent data. This change is a sign of increasing recognition of the importance of AI skills. The sector is experiencing immense and exciting growth driven by technology.
To add to this alarming trend, today, almost 25% of all job postings require that applicants have AI experience. This high demand puts the onus on job seekers to keep pace with a rapidly evolving industry. Recent graduates especially have to contend with a more competitive job market than ever before. With increasing advancements in technology, new expectations and responsibilities are being placed on our new hires.
The hiring environment for recent grads has made an about face with steep drops—especially at the 15 biggest tech firms. Since 2019, recruitment of graduates by these firms has dropped by more than half. Business practices Before the pandemic, recent graduates accounted for 15 percent of Big Tech’s annual new hires. That number has now fallen to a mere 7%. This decrease brings a difficult forecast for individuals hoping to secure their inaugural positions in tech.
Even with these bumps in the road, the long-term forecast for growth and opportunity in tech jobs is looking bright. Projections show that jobs in this field are expected to increase from 6 million to 7.1 million jobs by 2034. This expected growth opens up extensive opportunities. It’s these individuals that have the best skills and experience that will reap the rewards.
These are in addition to the fact that software developer currently have a pretty cushy unemployment rate of 2.2%. This number is especially jarring when contrasted with the national unemployment — implied to be about 4.4%. That’s startling enough, but the disparity illustrates a booming national demand for skilled software development professionals. At the same time, scores of new graduates are struggling to land jobs.
The evolving job market emphasizes the need for candidates to develop and showcase relevant skills, particularly in AI and related technologies. As our industry continues to change and adapt, it’s important to be proactive. Developing a proactive, hands-on understanding of these topics will put you miles ahead of the competition.
