COVID-19 has caused widespread economic damage to the tech sector, according to a new Indeed report. There are fewer tech job postings due to the coronavirus pandemic, while more people have been searching in the field, according to the job search website.
Indeed, which looked through 564 tech-related job titles for the report, found data science was the hardest hit, with up to 51% fewer jobs advertised compared to a year ago. Next was IT management, security and quality assurance, software development, system engineering, and IT operations and help desk.
Tech job postings in eight U.S. "tech hubs" were down by at least 20% as of July 24. Raleigh is down by 45%, Seattle by 41%, and San Francisco is down 38% compared to job listings a year ago.
One economic consequence is that rents in the San Francisco Bay area are falling, "probably because tech workers are leaving and the influx of new tech workers has shriveled," the report said.
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