Global labor market insights: June 2023 edition

As the world becomes increasingly digitized, the importance of cybersecurity has skyrocketed. The global cybersecurity market might reach an impressive $202 billion by the end of 2023, indicating the critical need for skilled professionals to protect organizations from cyber threats. With over 3.3 million job postings in the cybersecurity domain between June 2021-2023, it’s evident that the demand for cybersecurity experts is at an all-time high. In this blog post, we’ll delve into the current state of the cybersecurity job market, explore global labor market insights, and examine the most sought-after job titles in the industry.

In June 2023, the global job market witnessed an unprecedented surge, with 24.2 million job postings. It represents a remarkable 34% increase compared to the previous month, indicating a highly competitive hunt for talent in the second half of 2023. Regions that particularly stood out for their job demand were North and South America, surpassing the demand in most European and Asian countries during the same period.

The United States, known for its technological advancements, is the leading region regarding cybersecurity job demand. The US labor market rebounded significantly in June 2023, recording a remarkable 57% increase compared to the previous month. However, other European countries, such as Germany, also experienced a significant positive trend, with a staggering 96% increase in job postings compared to the previous month. Mexico and Columbia followed suit with approximately 60% increases each. These top ten countries saw a surge in job postings from approximately 12 million in May 2023 to just over 17 million in June 2023, highlighting a notable momentum in the cybersecurity job market.

The demand for cybersecurity professionals has grown exponentially over the past two years, with a remarkable 60% increase in global demand for cyber-related positions. In June 2023, there were nearly 163,551 global job postings related to cybersecurity, approaching a record number.

When analyzing specific job titles in the cybersecurity domain, roles such as cybersecurity engineer and cybersecurity analyst take the lead, reflecting the focused nature of the demand. However, it is noteworthy that cybersecurity skills are increasingly sought after in core IT jobs, such as software or DevOps engineering, indicating the essential role of cybersecurity in all aspects of technology-driven industries.

Surprisingly, the need for cybersecurity-related skills extends beyond traditional IT roles. Non-IT jobs like systems engineer, project manager, business analyst, business development manager, and customer experience associate also require cybersecurity expertise. This trend highlights how cybersecurity has become integral to various industries where data protection and digital security are paramount.

The primary demand for cybersecurity jobs stems from specialized industry players, such as Palo Alto Networks and Leidos. Large service firms like Deloitte, Atos, TD, and EY are also significant contributors to the demand for cybersecurity professionals. It indicates that both cybersecurity-focused organizations and enterprises across different sectors prioritize fortifying their digital infrastructure.