Indeed, the world's largest job site, just released its big annual study. The data on tech jobs is pretty gruesome. The outlook for data and analytics jobs is particularly grim.

Let's start with the overall job market. This chart, which includes Indeed's Job Postings Index, shows a steady decline in available jobs since the pandemic boom of 2022.

Dig deeper, and you can see that the tech job market has done a lot worse than some other sectors. Indeed's Tech Job Postings Index peaked above 200 in 2022 and has since plunged to 67.

Data and analytics jobs really stand out, though. This sector had a Jobs Posting Index of 60, the lowest of all sectors Indeed tracked as of the end of October. That means there are 40% fewer data and analytics job openings than before the pandemic.

Even worse: There is still a rising number of applications per job in this sector, according to Indeed.

These types of roles include business analyst, data analyst, data scientist, and business-intelligence developer. Indeed's data shows a clear mismatch between employer demand and worker supply here. Years of investment in data-science training have left a glut of skilled candidates just as hiring appetite cools.

"Workers who received that training are likely to continue to look for jobs that match their skills, regardless of the pullback in postings, because it is often difficult, costly, and time-consuming to change careers," said Cory Stahle, a senior economist at Indeed.

The pullback in data & analytics jobs has been more dramatic than in other occupations. Employers went on a hiring spree during the post-pandemic boom. Since then, many firms simply haven't needed to replace these workers as much.

Adding to the chill: the rise of generative AI, which is making it easier for more people to analyze data with less formal training.

"AI is not yet capable of replacing workers, but it may be helping workers and businesses do more with less," Stahle said.

For job seekers, that translates into a fierce market.

"This combination of fewer postings and more applications suggests that the market is competitive," Stahle warned. "Finding the right job may take some time, and your wage growth is likely to be weaker than it was a few years in these roles."

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