Q1 - The Status Quo
There was a time in the not-so-distant past when a shortage of skilled workers in the power electronics sector was the status quo. If we turn our minds back to pre-COVID times, if indeed we still can, employers would consistently battle it out to find candidates for open positions. That created a very favourable jobs market for candidates that were looking to make their next move in the sector.
Towards the end of February, the total number of job postings for power electronics roles started to fall, but in the following weeks, demand continued to remain stable.
Q2 - The COVID Crater
Starting in March, the number of power electronics job postings started to fall. This coincided with the rise in the number of Covid-19 cases in the UK and across much of the world. That trend continued, with many businesses stuck in a state of uncertainty and hiring decisions delayed. As the quarter progressed, we began to see something that would have been unthinkable just a month or two before, with some employees in the power electronics sector being furloughed and even laid off.
Although the fall in demand was sector-wide, there were a few segments of the industry that were not equally affected. Perhaps unsurprisingly, demand in the medical sector remained strong, but other segments of the industry that did not feel the colossal impact of Covid-19 were few and far between.
Q3 - The Recovery
After upending everything, we are now starting to see the power electronics jobs market kickback and the recovery has been surprisingly strong. As employment demand starts to rise, we are seeing more job postings and an increase in new hires, with particularly strong interest in candidates with experience of design-in sales.
As with any downturn, there has also been an increase in demand for candidates who can help businesses do things more efficiently, which is further helping to drive the recovery of the power electronics jobs market.
The number of new power electronics roles in Q3 has risen month-on-month. From June to July, the total number of job postings remained flat. From July to August, it rose by 8 percent, and from August to September, it increased by a further 15 percent.
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