Job Searches for Blockchain Down Following Bitcoin’s Bear Market, Despite Growing Demand

  • Blockchain job seekers are on the decline following a drop in popularity for bitcoin and cryptocurrencies.
  • Searches for blockchain and crypto jobs dropped in 2019 despite the number of openings increasing.

Two new reports on the job sector show that less people are applying to blockchain-based jobs following bitcoin’s bear market throughout 2018 and parts of this year. 

According to LinkedIn’s “Emerging Jobs” report, the industry of blockchain and role of “Blockchain Developer” failed to make the list for 2020. The report, which analyzes the job market and growth in different sectors, said the low demand for blockchain development by jobseekers was a result of a decline in popularity for crytpo-assets, 

Blockchain Developer didn’t return, which may not come as a surprise given the rapid decline in popularity of Bitcoin and other cryptocurrencies.

Another report by Seen, a tech hiring platform operated by Indeed.com, found a similar trend in the decline for blockchain roles by jobseekers. The report, which analyzed millions of jobs postings on Indeed.com, found that while demand for blockchain services remains high, developers seeking employment in the sector have declined. 

Indeed found that searches for bitcoin, blockchain and cryptocurrency roles has declined steadily since reaching a peak in early 2018. 

According to the report, 

Looking more recently, in the past year, the share of cryptocurrency job postings per million on Indeed have increased by 26%, while the share of searches per million for jobs have decreased by 53%.

The report continues,

We’ve previously covered how bitcoin’s volatility seems to correlate with job seeker interest, and the change in bitcoin price this year might be why job searches have declined.

However, the increase in jobs for blockchain means that current developers looking for employment will have their pick of the litter in 2020, even if the overall number of jobseekers in the sector has declined. 

Featured Image Credit: Photo via Pexels.com