Here is my “Tuesday evening 15min before leaving work analysis”.
Before COVID, IT market was stable. After COVID, there was WAY too many IT offers. Then, market collapse supposedly because of AI:
(Source: https://fred.stlouisfed.org/series/IHLIDXUSTPSOFTDEVE)
In blue line, actual curve. In green line, what should have been IT market without COVID and AI.
For IT market to get back to equilibrium, red area should be equal to blue area. If I do some patchwork, I ended up with this:
So my conclusion is that it indeed slowly starting to recover and should be back to normal ~mid 2027.
Time to go home, bye 😁
Solid explanation. Thank you
So my conclusion is that it indeed slowly starting to recover and should be back to normal ~mid 2027.
thank you! I shall now plan my entire life and financial decisions around this conclusion! I appreciate your financial advice <3
/s but kinda what my gut has been telling me anyways
guess depends on your viewpoint
That is better perspective but also makes things worse by making 60 the bottom value, where someone would intuitively expect 0.
Also we know things were artificially high in 2022.
yeah just that the one made it seem like things were growing up until recently to me. People talk about the effects of pandemic but I think some of it was the obsession with dev ops. I think a lot of peoples roles where changed to dev or they wanted their titles to reflect it more.
Does this analysis adjust for all the BS listings on Indeed? At least from my past experiences reading and applying on online job boards, I see a lot of job postings that are scams or advertisements backed by no real intention of actually hiring anyone
Yeah, scam listings to harvest and sell your personal information are way up.
I came to ask the same question. If they can weed out the fake postings, maybe indeed could do that as well and save their platform.
“The database has more rows. This is good for business.”
The AI Layoff Bill Is Coming Due, And CTOs Are Going To Pay It Twice
Gartner projects that 50% of companies that attributed headcount cuts to AI will rehire for similar functions by 2027. Forrester found that over half of companies that cut staff for AI already regret the move.
God I hope so!
Will be interesting to see and I hope it is recovering!
I’m somewhat casually job hunting, but not super serious or aggressive. Locally and anecdotally, things are pretty abysmal. I know it’s a biased assessment, but I don’t think it’s that far off (for my area).
The listings on places like Indeed and CareerBuilder are lacking and lots of problematic posts with all the standard issues we all know of – and then some.
I often check business websites directly as most of the larger and more established places will have a jobs/career section directly on their site (even if it’s just an embedded widget of job listings from CareerBuilder). So many places have completely empty jobs pages, very limited Senior Director / very high end listings only, or tangential stuff like “HR associate”. I looked at 4 places today, all empty “Join our team” pages, and that’s not unusual at all.
Then I talk to former coworkers, acquaintances, and friends in the tech industry. They talk about how there are hiring freezes right now, layoffs looming, no bonuses / no cost of living increases coming this year (or last). That’s been going on for over a year with no expressed optimism about it changing, just a bunch of people who are stressed to the max, stretched to the max, but can’t afford to leave.
A lot of the basic free lance stuff (like simple website development) has dried up as well. Businesses are cutting back on costs and willing to accept the slop that AI generates (for free!) or skip out entirely and just have a Facebook page.
