Why it feels IMPOSSIBLE to get a data analyst job | AI, career, tech
Summary
TLDRDespite the perception of a bleak job market for data analysts, the reality is less dire. The script reveals that recent tech layoffs have minimally affected data analysts, who account for less than 5% of job losses. It advises job seekers to look beyond the tech sector for opportunities and emphasizes the importance of upskilling in areas like adaptability, communication, and problem-solving to stand out. The video also touches on the impact of AI and automation on the job market and offers tips on crafting a compelling data analyst resume.
Takeaways
- 📉 Despite media portrayals, tech layoffs have not significantly impacted data analysts, who make up less than 5% of the total layoffs.
- 😟 The average profile of those affected by tech layoffs is someone with 2.5 years at the company and 12 years of experience, often overpaid.
- 💼 The job market faces increased competition due to experienced individuals entering the market post-layoffs.
- 📈 While tech hiring has decreased, the US economy continues to grow, adding jobs, indicating opportunities outside the tech sector.
- 🌐 Expanding job searches beyond the tech industry can lead to less competition and more opportunities for data analysts.
- 🤖 AI and automation are becoming more prevalent, potentially automating roles like HR and recruitment, and changing job market dynamics.
- 💼 Companies are focusing on 'doing more with less,' which may involve investing in AI and automation to increase efficiency.
- 🔗 To stand out, data analysts should continue to upskill and adapt, with LinkedIn listing adaptability as a top in-demand skill for 2024.
- 📈 Key skills that can help data analysts stand out include communication, analytics, and problem-solving, which are valuable across various career paths.
- 🌟 Having data analysis skills will become increasingly important as companies rely more on data and AI, even for roles outside of data analysis.
Q & A
Why does it seem impossible to get a data analyst job despite the high demand for data skills?
-The perception of difficulty in getting a data analyst job is influenced by media portrayals of economic recession fears and tech layoffs, which can create a misleading impression of the job market.
What is the impact of the economic recession fears on the tech industry and data analyst jobs?
-Although there are concerns of an economic recession, the actual impact on data analysts is less severe compared to other roles within the tech industry, with data analysts and data scientists making up less than 5% of the overall tech layoffs.
How does the media's portrayal of tech layoffs affect the perception of job availability for data analysts?
-Media often exaggerates the extent of tech layoffs, which can create a false narrative that data analyst jobs are disappearing, even though data roles continue to be added outside of the tech sector.
What percentage of recent tech layoffs were data analysts and data scientists?
-Data analysts and data scientists made up less than 5% of the recent tech layoffs, indicating that their jobs are less impacted compared to other roles such as HR and software engineers.
What is the average profile of someone impacted by tech layoffs according to 365 data science?
-The average profile of someone impacted by tech layoffs is someone who has been with the company for about 2.5 years and has an overall work experience of around 12 years.
Why are companies more likely to lay off employees with more experience during economic downturns?
-Companies often lay off employees with more experience because they are typically higher paid, and by letting them go, companies can save more on labor costs compared to junior employees.
How does the influx of experienced professionals into the job market due to layoffs affect competition for data analyst roles?
-The influx of experienced professionals increases competition for data analyst roles, as they compete for the same positions as those just entering the field, leading to a more challenging job market.
What advice is given for job seekers looking to enter the data analyst field amidst the changing job market?
-Job seekers should continue to upskill, stay adaptable, and consider looking beyond the tech industry for data analyst roles, as other sectors may offer less competition and more opportunities.
How is AI and automation impacting the job market and what does it mean for data analysts?
-AI and automation are leading to a trend of doing more with less in the tech industry, which may result in fewer job openings. However, having data analysis skills will become increasingly important as companies rely more on data and AI.
What are some key skills that can help data analysts stand out in the job market according to LinkedIn's top 2024 in-demand skills?
-Key skills that can help data analysts stand out include adaptability, communication, analytics, and problem-solving, which are not only valuable for data analyst roles but also for other career paths.
What is the importance of having data analysis skills in a job market influenced by AI and automation?
-Having data analysis skills is becoming increasingly important as companies look to optimize their operations with AI and automation, making data-literate professionals more valuable across various industries.
Outlines
📉 Tech Layoffs and Data Analyst Job Market
This paragraph discusses the misconception that it's impossible to get a data analyst job despite the high demand for data skills. It highlights the fear-mongering by media regarding economic recession and tech layoffs, which have led to a negative perception of the job market. However, data from 365 Data Science shows that data analysts and scientists make up less than 5% of the tech layoffs, indicating that their job market is less affected. The average profile of those affected by layoffs includes individuals with about 2.5 years at the company and 12 years of overall experience, suggesting that companies are cutting costs by letting go of higher-paid, more experienced employees. The paragraph concludes by advising job seekers to look beyond the tech industry for data analyst roles, as other industries are less competitive and offer more opportunities.
💼 Adapting to the Changing Job Market with AI and Automation
The second paragraph addresses the impact of AI and automation on the job market, particularly in the context of tech layoffs. It points out that roles such as HR and recruitment, which made up a significant portion of the layoffs, are susceptible to automation. Companies are focusing on efficiency and 'doing more with less,' which is leading to a shift in job requirements. The paragraph emphasizes the importance of upskilling and adaptability, as highlighted by LinkedIn's top in-demand skills for 2024. It suggests that individuals who continue to learn and adapt will stand out in the job market. The video also provides advice on how to write a data analyst resume to make oneself more competitive. The speaker encourages viewers to learn key skills like communication, analytics, and problem-solving, which are not only valuable for data analysts but also beneficial for other career paths. The paragraph ends with a call to action for viewers to subscribe and learn more about data analysis.
Mindmap
Keywords
💡Data Analyst
💡Economic Recession
💡Tech Layoffs
💡Media Influence
💡Job Market Competition
💡Adaptability
💡AI and Automation
💡Upskilling
💡Resume
💡Communication
💡Problem Solving
Highlights
Despite the perception of a tough job market, data analyst jobs are less impacted by tech layoffs compared to other roles.
Recent tech layoffs have primarily affected HR and recruitment roles, not data analysts or data scientists.
Data analysts and data scientists make up less than 5% of the overall tech layoffs.
The average profile of someone impacted by tech layoffs is someone with 2.5 years at the company and 12 years of experience.
Companies are opting to let go of more experienced, higher-paid employees to cut costs.
The influx of experienced tech workers into the job market increases competition for data analyst roles.
The US economy is adding jobs, with 353,000 jobs added in January, indicating a broader economic growth.
Data roles are continuously being added outside of the tech industry, suggesting opportunities in other sectors.
AI and automation are impacting the job market, with a trend towards doing more with less.
Adaptability is the top in-demand skill for 2024, highlighting the need for continuous upskilling.
Communication, analytics, and problem-solving are key skills that can help data analysts stand out.
Having data analysis skills is becoming increasingly important as companies rely more on data and AI.
Even if one is unsure about becoming a data analyst, data skills are fundamental and valuable across careers.
The speaker offers advice on how to write a data analyst resume and thinks like a data analyst.
Staying adaptable and learning new skills is crucial for career advancement in a changing job market.
Transcripts
why does it feel impossible to get a data analyst job they say data is the new oil of the digital
economy and unemployment rates are at its lowest then why is it still so hard to get a job I'll
discuss three reasons why and what you can do about it the first is fear-mongering from the
media starting in 2022 with the concerns of an economic recession the tech companies started
massively laying off their employee this includes FAANG companies and in the last
few years over 450,000 people have been laid off and if you've seen the media post left and right
tech jobs are over another wave of tech layoffs it makes it seem like the tech economy is doing
horribly but is it really that bad and is it that bad in particular for data analysts well let's
look into the data and dig a little deeper who is impacted by these layoffs 365 data science did a
recent data analysis on who was impacted by the recent Tech layoffs and the findings were really
interesting of the recent layoffs that happened 27% were from HR 22% from software engineers and
if you dig into the data a little deeper and look into the companies you'll see that data
analysts and data scientists make up less than 5% of the overall Tech layoffs so what does
this mean it means yes Tech layoffs are happening but the jobs that are mostly impacted within Tech
are HR and recruitment related job titles this means that data analysts and data related jobs
are less impacted by the overall Tech layoffs but by looking at the Reddit threads and the news and
media outlets it seems like data analyst jobs are dead and over and you shouldn't even start
learning these skills because it's a dead-end role what else do we know about the profile of someone
who's been impacted by these Tech layoffs 365 data science did the analysis and said that the average
profile of someone who's been impacted has been with the company for about 2 and 1/2 years and has
an overall work experience of around 12 years this makes sense because when companies are tightening
their budgets the easiest way to get rid of their cost is by getting rid of labor and if you look
at the profile 2 and 1/2 years means that the person was most likely hired during the pandemic
so tech companies over hired during the great resignation and the 11 to 12 year range shows
that the person was most likely probably overpaid and when you compare the salary of someone with 12
years experience versus a junior with one-year experience clearly you can save more money by
getting rid of someone who has more experience so what is the impact of these layoffs this brings me
to my second point which is more competition in the job market although 5% is not a large
percentage of the total Tech layoffs 5% of 450,000 is still a lot of people and based off the profile
this person is most likely someone who has lots of experience and now they're entering the job market
and competing against the same jobs as someone who is just learning the data analysis skills and
entering in the data market now at the same time you can see that the hiring for Tech has really
decreased since 2022 so you have more people in the market looking for tech jobs while there's
significantly less roles available but it's worth noting that not all industries are suffering the
US economy added 353,000 jobs in January which is is two times more than economists expected Tech
is just a small industry of the broader economy and there are data roles continuously being added
outside of tech so this tells me that if you're someone just entering the job market and looking
for your first data analyst role don't look at just Tech look at other Industries because it will
be a lot less competitive and you'll have more opportunities by expanding your search outside
of just that one sector another point to consider is is AI and automation impacting the job market
according to 365 science the fact that 27% of the layoffs were HR and recruitment shows that this
may be a sign that those roles can be automated and the impact of AI is already starting and the
new trend within Tech now is to do more with less as and squeeze more work out of less people in a
recent earnings call Amazon CFO said we're going to continue to be careful on what we invest in
and we're going to continue to invest in new things and new areas and things that resonate
with customers and where we can find efficiencies and do more with less we're going to do that as
well and this is how American capitalism works as companies are pressured to increase their bottom
line companies now have to think about how to do more with less and that's where you can see signs
of AI and automation because automation allows you to do more with less and this is starting to
impact the job market so what can you do to stand out as the job market changes and AI is shaking
up the industry you have to continue to upskill and stay adaptable LinkedIn just released their
top 2024 in demand skills and the top skill listed in there is adaptability as you can see the pace
of the world is rapidly changing and the people who are thinking oh it's impossible to get a job
why even start are the ones who are left behind while the other people who stay adaptable are
figuring out how to get new skills furthering their career and they're the ones who will get
hired as the world changes and yes it is harder to get a job now than it was 3 years ago but it
doesn't mean that it's impossible it just means you have to do things differently you can learn
the top skills on this list and include them in your resume to make yourself standout and
I'll link my video here on how to write a data analyst resume so that you can use that as a
reference and other key skills that stood out for me on the list are communication analytics
and problem solving these are key data analyst skills and learning these skills will not only
make you stand out as a data analyst but also give you opportunities for other career paths
as well from my experience the project managers or consultants who know how to pull their own
data and not have to wait for the data analyst are the ones who do succeed as companies start to use
more data and AI having data analysis skills will be so much more important and even if you realize
that you don't want to become a data analyst or you're unsure whether the data analyst field is
for you just having these data skills will be so fundamental and allow you to really stand out in
your career for 2024 and beyond I will continue to create more videos on how to do data analysis
so please subscribe and like this channel and if you want to learn how to think like a data analyst
I will link this video here so that you can get started and thank you so much I will see you there
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