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When tech giants like Amazon expand, other companies don't just worry about losing business. They also fret about hanging on to their employees.
Some of the industries that have defined New York City and the Washington, D.C., area will face increased competition for talent when Amazon sets up shop in their territory, with plans to hire 50,000 new workers amid the tightest job market in decades.
The expansion comes at time of fierce demand for computer programmers, mobile app developers, data scientists and cybersecurity experts. Salaries keep rising as companies from banks to retailers seek new technology professionals to expand their online presence and automate operations. Particularly in demand are software developers, with many switching jobs each year. Even some banks have eased up on their dress codes to project a hipper image.
Good news, ye techies working on Wall Street! Soon you might be able to wear jeans and t-shirts to work.
(Score: 0) by Anonymous Coward on Wednesday November 21 2018, @12:22AM (1 child)
I was in CA during the first dot-com crash, and the market was flooded in CA. I had to temporarily work out of state. There was also a mini-IT-bust roughly around 1990 because aerospace firms were doing mass layoffs due to "glasnost", throwing a lot of IT staff into the market. (The movie "Falling Down" is allegedly influenced by the 1990-ish recession/Glasnost.)
Past patterns are no guarantee of future patterns in either direction.
(Score: 0) by Anonymous Coward on Wednesday November 21 2018, @01:26PM
Agreed. The only way the DC tech market can be put in danger is if there is a tech crash. If there is a tech crash, the economy is fucked. It won't be about tech at that point. It will be at least '08 again.
I agree about the past patterns part. One must not fall into a gambler's fallacy. However, one can be certain that tech is relatively secure in regards to demand for skilled workers. A slight recession will decrease the demand somewhat but there will still be the demand and not that much supply. A major recession or crash is the only way to flip the balance. In that case, it's the whole economy that suffers, not just tech.