Recession and increase in unemployment
Is the tech. industry declining? What should the newcomers know before opting for this particular career path? Is there anything to fear about? A hype about the tech. jobs in society and especially in families of students choosing their career has made me ask this question. I hope a clear discussion with people who actually know about it will help.
LokiPen
Stealth
3 months ago
Recession and increase in unemployment is happening everywhere in the world in every industry.
The tech industry seems more affected just because they are trying to balance out the bubble of 2022 which happened due to more demand and less supply along with low or zero interest rates.
Now the industry is trying to balance that bubble under the pretext of recession. (I am not saying there's no recession but it's not as bad as the industry is trying to make it look just because they want to balance it out).
If you (or the newcomers) are fine with the career long upskilling tech industry requires then it's sorted.
If they aren't ready for it then they can choose some different field (however it will also require upskilling but the amount and pace will be lower than tech).
For Example, Professional photographers need to know how to use drone and/or how to make pre-wedding shoots more aesthetic.
CluelessCarter
Student
3 months ago
I am not able to judge my capability of upskilling and match myself with the pace of this particular industry. Can you suggest some insights or give some examples as to how I can understand the whole process and actually feel the rapid growth?
LokiPen
Stealth
3 months ago
Let me try.
Example 1:
Before 2-3 years AI was there but wasn't that much of a strong buzzword as Web3 and Metaverse and others.
Once the Gen AI came into the picture, AI became the strongest buzzword however it's not just a buzzword.
If you are a techie then you need to know how to use Gen AI and also have at least high level understanding of how Gen AI works.
Example 2:
A few years back for Test Automation Engineers it was enough to know one area (Web UI/Mobile UI/API) from the automation perspective.
While the architects/leads and senior engineers had been suggesting to leverage API Automation as much as possible, it was not always accepted by the clients.
Suddenly people realised the value of API Automation and since then it has become a must have skill.
So the engineers who didn't know it had to learn it and those who didn't learn it till now are struggling to get new jobs/projects.
To summarise, every once in a while a real big change will come in terms of what is expected of you and if you aren't able to catch up with it in a timely manner, you will be in a tough position.
So if you have that kind of mindset that once you get your first job then you are set and don't need to hustle or learn things then it's going to trouble you later.
It may sound too big or too tough to do, in reality it's just about having acceptance about the need of upskilling and doing it in a timely and disciplined manner.
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Join the field only if you like what you are going to do, if yes then in the long run it will be worth it even if the current times are tough (currently it is tough, yes tbh, jobs << workforce and no money in market, most companies are trying to low ball).
But if you're here to just get a job and relax after that or aren't ready to upskill with that speed, change your field!
CluelessCarter
Student
3 months ago
I am not able to judge my capability of upskilling and match myself with the pace of this particular industry. Can you suggest some insights or give some examples as to how I can understand the whole process and actually feel the rapid growth?
Hard to judge these parameters beforehand and every few months the situation changes you can never be sure of it or can judge it imo, but try answering the first sentence in my original reply to yourself, that should help you find correct path ahead!
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