Will Recession Affect Data Science Jobs in 2023?

Recession Storm

The long-imminent recession is finally here, and there’s no question about it. Tech companies that seemed invincible during the pandemic's peak are laying off employees en masse

Impact on Data Science

A large-scale crisis like a recession will indeed hurt everyone. No industry and even Data Science is immune to the effects of a global recession

Current Status

Predicted Unemployment Rate: 4.6% Big tech companies - Meta, Salesforce, & Google have announced layoffs and stagnant hiring conditions, due to bearish global markets & high-interest rates

The Silver Lining

Data Science as a field is most likely to be least affected due to recession Because organizations are in dire need of these professionals for data-driven decision-making in times of recession

Adaptability of Data Scientists

Data scientists can leverage their transferable skills in Statistical Analysis, Machine Learning, and Problem-Solving to adapt to changing market needs

Opportunities in Challenging Times

While some sectors may experience a decline in data science roles, other industries, such as healthcare, finance, and cybersecurity, may see continued demand

Upskill to Thrive in the Data Science Job Market in Times of Recession