In a startling revelation, a recent report by the Employment Service highlighted an escalating crisis within the high-tech industry. The release underscores a dramatic surge in unemployment, particularly impacting seasoned professionals who were once considered indispensable.

A Sudden Surge in Job Seekers

From 2019 to 2025, the number of job seekers in high-tech has more than doubled, leaping from 7,000 to nearly 15,000. Once thought untouchable, even experienced workers are finding themselves job hunting, exacerbated by a 223% increase in job seekers within key sectors like database management and networking.

Shifts in Job Market Dynamics

The job market dynamics paint a stark picture of change. Formerly, there were plentiful positions for each unemployed professional. However, as of April 2024, the scenario reversed, forcing many to compete fiercely for fewer positions. According to CTech, this adverse trend is a far cry from previous expectations during the COVID-19 boom when job availability seemed endless.

Impact on the Veteran Workforce

Veteran workers have taken a hit as the number of experienced job seekers, especially those between 36-45 years old, has surged significantly. This group, traditionally seen as a stabilizing force in companies, now faces a daunting job market landscape. The assumption that only younger, less experienced individuals were at risk has been debunked by new data.

Defense Industries: A Temporary Relief?

Though the defense sector has absorbed numerous laid-off tech workers, there’s looming uncertainty about what might happen when global demand diminishes. The crisis begs the question: What will become of these workers once defense stocks stabilize and employment there dwindles?

Rising Salaries Amidst Unemployment

Interestingly, as high-tech unemployment levels soar, job seekers’ average salary has also risen. For example, salaries for those seeking work leaped by 39.3% between January 2022 and April 2025. Despite this, the salary gap between tech job seekers and positions in other sectors has widened, showcasing the unique challenges tech professionals face.

Skill adaptation remains vital as demand shifts towards cyber and defense roles. The Employment Service, in collaboration with the Innovation Authority, is rolling out new training programs aimed at bridging the existing gap and preparing job seekers for emerging market needs.

Ultimately, how this crisis unfolds will depend significantly on broader economic circumstances and international demand shifts. Veteran professionals, highly valued for their expertise, now find themselves in an unpredictable economic climate, seeking stability in a once-thriving industry.