Comparing the 2018 and 2019 blockchain job markets

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The blockchain and cryptocurrency spaces are still prime locations for individuals looking for a new career or for a career change. Pooling data from various sources and comparing the information available from last year and this year show that the number of job positions available continues to increase, further proof that crypto is not just a passing fad as some have wanted to believe.

Freelance job site Upwork published a report last year that showed the most active industries looking for employees. At the top of the list was blockchain, a result that wasn’t surprising given the meteoric growth experienced by the industry in 2017. Uplink explained in its report, “[Blockchain] growth exceeded 2,000% for three quarters in a row on Upwork.com, and in Q1 it experienced more than 6,000% year-over-year growth, making it the fastest-growing skill out of more than 5,000 skills on the site. The initial hype has evolved into enterprises taking blockchain seriously; major companies such as Samsung and IBM are already leveraging it in innovative ways, while Salesforce ($CRM) is planning on unveiling a blockchain offering for its customers during Dreamforce in September.”

While that level of growth hasn’t been reproduced over the past year, it is still rising. Hired asserts that blockchain engineer positions have increased by 517% this year around the world and there are a large number of positions that go unfilled due to the lack of qualified talent.

In the U.S., despite what has been identified as a lag in FinTech innovation in the country, the number of blockchain specialists sought has been higher than in other countries. Glassdoor points out that, as of July, U.S. companies had posted just over 2,900 blockchain job openings, an increase of 40% from last year.

This has led Indeed to assert, “According to our data, the crypto and blockchain market is far from dead—in fact, it’s still rapidly growing. From February 2018 to February 2019, we saw the share of U.S. job postings related to crypto, blockchain and Bitcoin grow 90%.”

While the number of job openings may have increased, it appears that fewer jobseekers are interested in working in the fields. Indeed adds that the percentage of job searches tied to blockchain and crypto positions plummeted by 52% between June 2018 and June 2019.

Perhaps part of the reason for the reduction in job searches can be correlated to a reduction, albeit only slight, in pay. The average salary last year was $84,884, but is down to $82,500 this year. Certainly not a figure worth scoffing at, but it still may have led to some looking for work elsewhere.