Joey Politano🏳️🌈 @josephpolitano.bsky.social · 20d The US tech sector continues bleeding jobs—American tech sector employment is down 49k 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
339 likes 13 replies
Replies
So opex is declining as capex and debt rises - transition to failure or productivity?
Look at the crap we're building now, and I'm not just talking about AI stuff. There really is a terminal velocity for tech apps. How much additional work do you need to do on Etsy? Eventually, you reach the point of enshitification no one wants. The problem is expecting the curve always goes up.
Yay, more vibe-coded dog vomit on the way to crush what's left of our souls.
Tech will bounce back once management cashs their bonus checks from reducing overhead by replacing people with AI. And, the C-level realizes that AI isn't up to the task.
Yeppers 😭🤬😱
Maybe it's not necessarily a bad thing. Maybe we need more... I don't know, teachers and plumbers?
Maybe that high tech (however you define that word) "employment" was a bubble. You know, one of those passions that we eventually out-grow and realize was a stupid mistake, or a con-job or scam. Maybe too much trust in digital "tech" is just another tulip bulb or junk high-risk mortage scam.
It would be good to see more data here. 2016 was still in the ”free money“ bonanza that happened after the interest rate was set on the floor during the great recession
Well, I guess that proves it’s not a correction to over-hiring.
When even the high value tech sector is getting the "Dutch Disease" because oil and finance are just too damn profitable and together with AI they are sucking out all the investment...
Yep. Lost my job on that downhill slope... Don't know if I'll ever find another in this environment and me about to turn 50.
This is a warning sign for the whole industry. The AI boom gets the headlines, but the broader tech labor market is still under real pressure. Growth needs to translate into sustainable jobs, not just higher valuations.
Do you have this chart stretching back to 2008?