RECESSION 2023: Should You Worry About Data Science Jobs? 📉

Hi everyone! 👋 This video is slightly different from my usual content. But I'm hoping to provide a more positive take on the coming recession and what it means for tech/ data science jobs. We'll be going over some basic Macroeconomics concepts, and then talk about the silver linings of the coming recession and what you can do to prepare for it.

I hope you enjoy this video 😄. Let me know what you think in the comment below 👇

🔑 TIMESTAMPS
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0:00 - Intro
1:46 - Economics 101: Recession, inflation and policies
6:33 - Why this recession might be different
7:33 - Job marketing is relatively good!
8:33 - Becoming irreplaceable
9:52 - Transformed data job market
12:10 - Producer vs. Consumer mindset
13:22 - Benefits of recession for start-ups
14:10 - Connect & collaborate with others
14:31 - Find your sweet spot

👩🏻‍💻 COURSES & RESOURCES
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🙋🏻‍♀️ LET'S CONNECT!
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#datascience #datanerd

[sazopro]

I remember the 2008 recession and I learned that gaining new in demand skills during that time pays off greatly once the recession is over. So, recessions are an opportunity!

[LukeBarousse]

Loved the positive frame of mind on the crazy time we are going through right now🙌🏼

[sajanator]

I think my data science degree should be finished just as the recession ends. Thanks for this really insightful video :)

[User-gf]

Appreciate your positivity and optimism. Wish us all luck in 2023.

[Hierothewordsmith]

Your pronunciation has really improved since your earlier videos. I love to see growth even in subtle things as this it makes your message more personable.

[uriastriumph]

All I can say after watching this video is, thank you. You've shared such optimism and hope for us all.

[bigboy]

Love this video. I took on a pretty hefty side-project for a local non-profit. I wanted to help locate our local food pantries and homeless shelters and every month send a report to the non-profit on which shelters are helping the most people [and theories as to why].

Now, I'm doing it [still as a side-project] for my state. It's difficult. The data is so nebulous. But it truly does help to branch out and 'produce' something that makes your life feel fulfilling. I'm hoping I actually develop a model that I can just give organizations because when you do these type of projects you get 800 OTHER ideas in the process.

As always, thanks for the inspiration Thu Vu!

[chaos_monster]

I also think, that salaries are correcting downwards, that's why so many big tech companies (with overpriced salaries) reduce their workforce

[piperspurpose]

Thank you for sharing your thoughts and insights. You addressed a variety of important and timely issues regarding jobs, growth, and building resiliency. I feel much more hopeful and inspired 🤩

[iremcorumaktas]

Great video! As an economics student (bachelors before, now masters), and a learner of data science, I related to this video so much! Although I still think that what I have learned in economics is quite relevant for data science since econometrics is basically an intro to data science for me. Tbh I believe that time series analysis is a form of data science :)

[phamhuy]

Well thought-out 16 minutes of economics Thu! Thank you so much :)

[xerxesgouveia]

Thanks for this video. I started my pos degree in Data Science last saturday. Your channel is helping me a lot. Hugs from Brazil!

[gavinkalaher]

I'm a believer that we should never abandon our chosen paths due to macroeconomic conditions. Instead, continue to forge a path, invest in education and personal growth, push the envelope by adding layers to your skillset, improve your portfolio, network and teach others. Eventually, once the tide turns you'll be in a far stronger position than others who have less faith and change with the shifting sands.

[rfoliveira]

This was excellent! Per usual, your reasoning is very clear and the logical concatenation of the ideas was outstanding!

[niallwhelan]

Timely and informative as usual, thanks!

[johnwig]

Yeah i was pissed, many countries' economy were alr in the green light recovering. And then someone had to play Command & Conquer in real life. Some of my company's ships had to take a longer route now & some have to cancel or delay everytime an incident occurs. For instance, a tanker of another company (a ship, not a tank) got hit. But ppl often downplay the effects of supply chain disruption.

[tangierla]

i admired your knowledge and also the willingness to share it with the world. It would be great if you could share your english learning path as well.🥰

[presentlivinghk]

I don't see the companies HR knows where to find talents. I tried to raise attention in my past company that there was an elephant in the room that C officers need to tackle. As a result, I was laid off in late 2019. However I started up my business during pandemic to build my abilities in Accounting, Marketing, Operating business etc. Still with my transferable ability from Inflight entertainment industry, I was not able to get an interview in Netflix, Apple TV or Disney+, as I found room of improvement in the user experience in those platforms. I keep working my best in my own business and trying to develop youtube content/podcast and hopefully one day those OTT company found me.

[ravendario]

Thanks for this wonderful video. I am in the project management field and would like to transition into more data-related post. This gave me a clear mindset on what to prioritize more on the job hunt.

[tomvvmarsin]

Thanks for your positive vibe. Let's do our best in these tough days.