Blockchain Job Searches Remain High, While Bitcoin, Cryptocurrency Searches Fall
Starting in mid-December, the price of bitcoin began to fall, and so did job seeker interest.
Over the last year interest in cryptocurrency jobs on Indeed has risen strongly. However, in recent months the prices of bitcoin and other cryptocurrencies have been volatile and (in some cases) has declined. Job seeker interest on Indeed for bitcoin and cryptocurrency jobs has fallen, too. But interest in blockchain jobs has held steady.
In the six months through mid-December, job seeker interest in all things crypto was rising steadily. Searches for “bitcoin” peaked at 39 searches per million in the week ending December 14. And that same week searches for “cryptocurrency” peaked at 46 searches per million.
But starting in mid-December, the price of bitcoin began to fall, and so did job seeker interest. From mid-December through March 15, searches for “bitcoin” have declined 76% and “cryptocurrency” by 41%.
Blockchain interest remains high, however. At 47 searches per million, interest in blockchain jobs is down slightly from its recent peak in late-February but remains essentially unchanged during the three month period to March 15. The sustained interest in blockchain jobs is perhaps a sign that job seekers believe non-financial companies will pursue blockchain applications, even if financial companies see cryptocurrencies as a fad. Rightly or wrongly, blockchain is seen by job seekers as a viable innovation whether or not bitcoin and other cryptocurrencies are.
Andrew Flowers is an Economist at the Indeed Hiring Lab, focusing on the US labor market. Previously he was the quantitative editor and economics writer at FiveThirtyEight, Nate Silver’s data-driven news site; and before that, he was an economic analyst for the Federal Reserve Bank of Atlanta. As a freelance journalist, he has written for The Economist. He has a B.A. in economics from the University of Chicago.