By now our readers are aware that the crypto market has been on a downhill slope the past few weeks, and the whole year, really, going from the highs of the end of last year now to new 2018 low below $5,000.
What our readers may not have learned yet, however, is that the job openings in the blockchain industry have seen a likewise skid.
While still one of the better-paying tech sectors to get into, demand for blockchain specialists, coders, and the like has dropped while the crypto market capitalization has done the same. Indeed.com has done another study on the matter, so we reached out for details. CCN previously reported on this subject earlier in the year. We heard back from an Indeed representative, who informed us:
“From October 2017 to October 2018, job seeker interest for roles related to bitcoin, blockchain, and cryptocurrency declined by 3.06%, while employer interest for roles related to the same terms only rose 25.49%. Which was very different than the interest levels from the year before by both parties.
“If you look at data from the year prior, October 2016 to October 2017, job seeker interest for roles related to bitcoin, blockchain, and cryptocurrency rose by 481.61%, while employer interest for roles related to the same terms rose 325%.”
The representative included a chart in the e-mail:
The blue line is people seeking to work in the blockchain sector, while the red line is employers who are looking for such qualified individuals. As you can see, the two figures have gone inverse of each other – where previously there were many more people interested in blockchain work than there were new jobs in the sector, now there are significantly fewer people looking for that type of work.
The sector is still growing. 25% increase in demand for employees is nothing small. Blockchain is, without a doubt, creating good jobs for those who are capable of doing them. This kind of growth or new demand in any other industry would be notable. But when the SEC is essentially kicking down doors and with an industry still confusingly regulated, it’s hard to expect companies to continue going all-in at an exponential rate.
Featured image from Shutterstock.