Comment by pclowes

I don't recall any recession with respect to tech in 2020. It was a hiring frenzy.

Any commentary about tech jobs that does not include the interest rate environment and the massive over hiring that occurred between 2019 and 2022 is borderline dishonest.

Look at federal data of SWE job postings and look at the federal funds rate for the same period. Jobs is giant mountain peaking in ‘22. Interest rate is zero for the pandemic and then spikes right when SWE jobs start to collapse.

Tech hiring is all downstream of interest rates. AI has had almost no impact, at least not yet. (Block layoffs were not AI, look at their stock, they basically can only succeed as a financial company when money is free, very misleading and a convenient excuse for terrible management to now say they need to be “AI native”)