There have been reports of tech talent shortages continuing amidst layoffs in some industries. While the COVID-19 pandemic has led to significant job losses in certain sectors, the demand for skilled workers in technology-related fields remains high.



Even as layoffs continue to impact the tech industry at large, there is still a critical shortage of skilled IT labour. The demand for tech talent greatly outstrips the supply, which will continue until at least 2026 based on forecast IT spend.

Tech layoffs do not mean that the IT talent shortage is over. IT spending on internal services is slowing in all industries, and enterprises are not keeping up with wage rate increases. As a result, enterprises will spend more money to retain fewer staff and will turn to IT services firms to fill in the gaps.”

This is due to several factors, including the continued growth of the tech industry, the rapid pace of technological innovation, and the increasing importance of digital transformation in businesses across all sectors. As a result, employers are often struggling to fill roles that require specialized technical skills, such as software development, data analytics, and cybersecurity.

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