Why it feels IMPOSSIBLE to get a data analyst job | AI, career, tech

Summary

Despite 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

00:00

📉 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.

05:01

💼 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.

Keywords

💡Data Analyst

A data analyst is a professional who collects, processes, and interprets complex digital data to help organizations make informed decisions. In the video, the difficulty in securing a data analyst job despite the hype around data being valuable is discussed. The script mentions that data analysts and data scientists make up less than 5% of the overall tech layoffs, indicating that their jobs are less impacted compared to other roles within the tech industry.

💡Economic Recession

An economic recession is a period of temporary economic decline during which trade and industrial activity are reduced. The script references concerns of an economic recession starting in 2022, which led to massive layoffs in tech companies, influencing the perception of job availability in the tech sector, including for data analysts.

💡Tech Layoffs

Tech layoffs refer to the dismissal of employees from technology companies. The script discusses how the media's portrayal of tech layoffs might be exaggerated, causing fear and a misconception that the tech economy is doing poorly. It is noted that data analysts are not heavily impacted by these layoffs, contrary to widespread belief.

💡Media Influence

Media influence refers to the power of media to shape public opinion and perception. The video script points out that media's portrayal of tech layoffs and the tech economy can create a sense of despair and make it seem like data analyst jobs are scarce, even when data suggests otherwise.

💡Job Market Competition

Job market competition refers to the rivalry among job seekers for available positions. The script mentions that despite the layoffs, the influx of experienced professionals into the job market increases competition, especially for those new to the field like data analysts.

💡Adaptability

Adaptability is the ability to adjust and respond effectively to new conditions or challenges. The video emphasizes the importance of adaptability as a top skill for 2024, suggesting that those who can adapt to changes in the job market, such as the impact of AI and automation, are more likely to succeed.

💡AI and Automation

AI and automation refer to the use of artificial intelligence and automated processes to perform tasks that would typically require human labor. The script discusses how these technologies are being adopted in the tech industry to 'do more with less,' which can lead to job displacement but also create a need for new skills.

💡Upskilling

Upskilling is the process of learning new skills or improving existing ones to enhance employability. The video encourages data analysts to continuously upskill to stay competitive in a changing job market, highlighting the importance of learning in-demand skills to stand out.

💡Resume

A resume is a document used by job seekers to present their skills, experience, and education. The script suggests that including top skills from LinkedIn's list of in-demand skills can make a resume stand out. It also mentions a video on how to write a data analyst resume, indicating the importance of resume quality in job applications.

💡Communication

Communication is the process of exchanging information, ideas, or feelings. The video lists communication as a key data analyst skill and one of the top skills for 2024, highlighting its importance in both data analysis and other career paths.

💡Problem Solving

Problem solving is the ability to think logically and creatively to find solutions to issues. The script includes problem-solving as a key skill for data analysts, suggesting that the ability to analyze data and solve problems is highly valued in the job market.

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