Its 2020 Cybersecurity Workforce Study revealed that 700,000 extra professionals, or 25% more than last year’s workforce estimate, have joined the industry — expanding its ranks to around 3.5 million.

The shortfall in skills has therefore dropped from 4.07 million last year to 3.12 million.

Not all of this is good news: the closing gap can partly be explained by job losses as COVID-19 hits security budgets. Nearly a quarter (23%) of respondents said that they or a peer had been let go as a result of the pandemic. More than half (54%) said they’re concerned about personnel spending and 51% are worried about technology spending going forward.

As well as lay-offs, 40% of respondents said that they or a peer had their salary reduced, 36% had their hours reduced and 9% had been moved from a full-time to a contract-based role.

In fact, in a new PwC report, over a fifth (22%) of UK business and technology leaders said they are planning to downsize their security teams, versus a global figure of 16%.

The irony is that security has never been more important in a world of mass remote working and digital transformation. Over half (56%) of respondents to the study said their organizations are at risk due to cybersecurity staff shortages.

Cloud security is the most in-demand skillset, with 40% of respondents stating they plan to develop it over the next two years.

Interestingly, only half (49%) of those working in the industry actually have degrees in computer and information sciences, highlighting the importance of employers looking outside the sector to find fresh blood.

A major recruitment drive is still needed to alleviate skills shortages: employment needs to grow by around 41% in the US and 89% worldwide to fill the talent gap, the report claimed.