Joey Politano🏳️🌈 @josephpolitano.bsky.social · Jun 5 US tech sector employment is down 43k over the last year in data released this morning—that's nearly as bad as the worst of the 2024 tech-cession, and significantly worse than either the 2008 or 2020 recessions
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But people laughed at me when I said this hiring environment was worse for juniors than the financial crisis? The data must be wrong.
Tech sector employment is down while tech CEO pay has increased tremendously on the backs of those who have been laid off. Our problems in a nutshell.
This is now the longest stretch of tech job losses in US history—while losses in the dot-com bubble were larger, it took less than 3 years for tech firms to start adding jobs again. Today, the US has already been losing tech jobs for three straight years with no sign of slowdown
AI inflicted, no doubt.