The year 2020 was one of the most volatile in the history of the job market. When the epidemic struck, many businesses simply couldn’t survive, and millions of individuals all around the world were forced to hunt for new jobs. However, certain notable job patterns continued into 2024, extending beyond 2025.
Don’t be fooled: large-scale economic upheavals not only result in job losses, but also in job transformations. Candidates pivot into new jobs as the market shifts around them, reskilling themselves in the process.
We’ll go into the current career trends in the job market in 2024 in this post.
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What is the definition of a career trend?
Simply said, a professional trend occurs when the need for a specific set of talents changes. If we see a good trend, the market will carve out a new, well-defined career path for those skills. The number of options to enter a traditional career is decreasing, which is a bad trend.
It’s simple to think of some recent examples. In the last 15 years, as technology has advanced, the demand for Data Scientists has increased as part of a positive trend.
There’s now a full career path laid out for people interested in working in data science, complete with university degrees designed to equip graduates with the abilities they’ll need to get into the field.
On the other hand, as data science becomes more popular, traditional data entry jobs are becoming obsolete as automated solutions become the standard. Negative career trends are usually the result of a favorable career trend elsewhere.
It’s always a good idea to keep an eye on new professional trends in order to extend your career and increase your earning potential.
What Does the Job Market Look Like Right Now?
While there are some disparities between countries, the job environment is beginning to seem better than it did in 2020. Many predict a job stabilization when countries emerge from winter lockdowns and restart their COVID immunization programs.
In the United Kingdom, for example, the Office for National Statistics reported five months of job growth in a row as of May 2024. Granted, compared to pre-pandemic Britain, there are still roughly 750,000 fewer people employed, but it’s a step in the right direction.
Around the world, the unemployment rate in the United States increased to 58 percent in April 2021, up from 54.6 percent in June 2020, and Australia’s unemployment rate continued to reduce despite the conclusion of the job keeper subsidy program.
However, that optimism should be taken with a grain of salt. As we slowly move out of the pandemic, the world’s economy remains unstable. A spike in a certain type or the possibility of a hard winter in 2022 could derail the market’s recovery.
So, how are things doing so far? In a nutshell, the situation is unknown. Everyone is crossing their fingers and toes for continuing job growth while remaining acutely aware of the threats of future pandemic waves.
What Impact Has COVID Had on the Job Market?
Even if we all hope COVID won’t be there for long, it’s safe to say the pandemic’s consequences will be felt for a long time. Here are a few of the major ways the pandemic has altered the job market.
Everything is going digital
You can bet that if businesses haven’t already embraced digital, they will now. The need to grow and engage customers through digital channels was vital for survival, especially in retail and hotels.
This resulted in an immediate demand for qualified digital experts on the labor market. Software developers, digital marketers, and IT analysts were in high demand, particularly among businesses undergoing fast transformation.
What are the most popular items? – Digital and technology jobs are available.
The gig economy
The gig economy is a term used to describe a system in which Contractors and freelancers have long benefited from the strategic application of digital capabilities. With the pandemic, as demand for such talents increased in the near term, so did chances for talented digital professionals.
We don’t expect it to change with the market’s long-term uncertainties, and talented personnel won’t need to hunt for permanent positions as long as there is a significant demand for temporary positions.
What is in high demand? – Temporary positions that allow businesses to hire skilled workers while keeping expenses low.
Working from home is a great option
The pandemic caused an immediate transition from office life to working from home, especially for individuals who worked in offices. Employees were accustomed to working from home as the pandemic progressed, savoring the benefits of extra time with their families and no daily drive.
Employees increasingly expect to be able to choose when they want to work from home and when they want to go to a physical workplace by default. Employers must embrace a manner of working that complements a hybrid lifestyle, and the job market must respond.
What is in high demand? – Jobs that allow people to choose where and how they work.
The Jobs with the Highest and Lowest Demand
Let’s begin with a traditional popularity contest. We believe the following roles are the most popular on the market right now, based on the number of tests created in the first half of 2022.
- Web Developer
- Node.js Backend Developer
- Frontend Developer
- Digital Marketer
- Customer Support
- Sales Representative
This is consistent with our findings of the market as a whole, with digital roles at the top of the list. However, digitization does not occur on its own. Customers require assistance during their digital transformations, which is why Customer Support positions are in high demand.
On the other hand, we see a lot of specialist developer skills exams being produced in tiny quantities. While we don’t believe this means they aren’t in demand, it does indicate that particularly specialized occupations aren’t as popular as generic ones.
Other departments, on the other hand, are experiencing a labor shortage. As the year advances, skills testing for copywriter and SEO professions are becoming less and less common. It’s difficult to say why this occurs, but it could indicate that businesses are spending in short-term digital marketing methods, such as advertisements, in order to boost immediate sales.
What does this indicate for the future of work? – Jobs in the digital and customer service sectors are plentiful, as we’ve seen, and if you’re considering a career change, there are plenty of options.
Jobs with the Fastest and Slowest Growth
We’ve seen a bit of a mixed bag when it comes to professional advancement, which is in keeping with the market in general. Tests in areas like development and product management ebb and flow, but ultimately sit flat over the year.
When looking at market research, one of the most noticeable areas of growth is e-commerce. While many external studies focus on the logistical talent needed to serve digital consumers, we are seeing a huge increase in the number of product, development, and customer service tests being created.
Surprisingly, we notice oscillations in these types of positions, with significant volume spikes in January and March of this year. We believe this confirms our projections about temporary labor, with companies bringing in personnel for short-term projects.
The amount of examinations designed for HR & Finance professionals, on the other hand, has experienced little development, if any at all. While it’s difficult to pinpoint why this is, we believe that most firms already have this skill and don’t need to enlarge such departments to cope with digital scaling.
Fastest Growing Jobs:
- Front End Developers, Digital Marketers, Facebook & Google Ads Specialists
Slowest Growing Jobs:
- Finance Analyst, HR Manager, Business Administrators
What does this indicate for the future of work? – While finance and HR positions will always be needed, those markets aren’t as strong as they could be. They can be regions to avoid if you’re searching for a quick job move.
Jobs with the Highest Saturation
Of fact, supply and demand are rarely matched when it comes to any given job role. Saturated jobs are those for which hiring managers receive a large number of test applications for a single position.
The following positions are the most popular, with each attracting over 1000 test takers:
- Design Lead
- BI Analyst
- Account Executive
- Lifecycle Marketing Manager
- Python Developer
- People Ops Lead
- Product Manager
- Frontend (React) Developer
- Backend (Node) Developer
Naturally, the effectiveness with which positions are publicized has a significant impact on the number of applications received. We see constant appeal for those roles across a variety of consumers, we say.
Unlike software development tests, which require very specific abilities, Product Management, People Operations, and Account Management positions rely more significantly on soft skills, which are more widely available.
Similarly to our most and least in demand findings, the most esoteric developer roles have the least saturation. Fewer candidates take a competency test for roles that need specific language expertise or years of experience.
In addition, we know that certain developer roles are in short supply, resulting in a smaller skill pool overall.
Forecasts for 2024 and Beyond
We believe that the rise in digital jobs is here to stay, and that customers will expect a digital experience when they return to retail establishments and hospitality venues. Even before COVID, significant progress had been achieved in AI, robotics, and automation. We expect this trend to continue, with product-based positions expanding to support all of this progress.
That also means a lot of the same things in terms of career trends. For school leavers and graduates, careers in digital and technology continue to be extremely popular, with more and more traditional occupations (such as finance) requiring digital fluency.
As the world becomes increasingly remote, the demand for intuitive, versatile, and cost-effective software will increase, creating additional opportunities for product and customer experience designers. Along with that, businesses must maintain their human resources, so expect a more dramatic transition from helpdesk support to client success for individuals in customer-facing roles.
Final Thoughts
Despite the fact that the epidemic has taken a toll on the job market, there is cause to be optimistic for individuals wishing to start a new profession. As we look ahead to 2024, the labor economy is becoming increasingly digital, requiring flexibility in how and where we all work.
This is mirrored in the statistics from Toggl’s abilities assessment. The most in-demand positions are all in the digital and technological fields, with specialty roles failing due to a scarcity of qualified candidates. Traditional HR and finance professions have witnessed tiny dips this year, but it’s unclear whether this trend will continue or if it’s just a blip.
If you’re looking for a new job, the greatest options are almost certainly in the digital realm, whether you’re working on a technical level to design solutions or assisting clients in maximizing their performance through technology.
