The US' February jobs report shows the tech sector's post-2022 job losses are now outpacing past downturns in 2008 and 2020
- Tech industries are losing their strength. — One economist said tech job losses outpaced the past two recessions. — Still, there is weakness in other areas of the job market.
Business Insider
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Discussion
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@josephpolitano
@josephpolitano
on x
Brutal numbers for US tech sector jobs released today—overall, employment decreased by 12k last month and is down 57k over the last year That's now nearly as bad as the worst of the 2024 tech-cession, and significantly worse than either the 2008 or 2020 recessions [image]
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@joshkale
Josh Kale
on x
Today's jobs report is “significantly worse than either the 2008 or 2020 recessions” And just yesterday GPT-5.4 officially became better at work tasks than 83% of knowledge workers. We've been debating whether AI kills jobs for three years. So what's happening here? Here's [image…
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@coron_samuel
Samuel Coron
on x
@JosephPolitano Yet Citadel is saying that the job openings for software developers are rapidly rising https://www.citadelsecurities.com/ ...
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@nikicaga
Nikolaj
on x
The tech moguls turned hitlerite over less than this under Biden
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@dkthomp
Derek Thompson
on x
I still don't think we have crystal-clear, I-will-hear-no-objections evidence of AI's effect on the macroeconomy. And yet. If you asked me “what would change your mind here?” I'd probably say, “emerging evidence of a productivity boom combined with a major slowdown in tech
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@dorialexander
Alexander Doria
on x
yeah, it's no longer about pandemic correction.
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@samanthaladuc
Samantha LaDuc
on x
A VERY successful HF mgr & Edge client holding a futures short position pinged me late last night with nervousness about potential Bessent intervention in oil markets. To which I replied, “Selling under the surface was solid. So is negative gamma.” And now we see bad news is
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@krishnanrohit
Rohit
on x
If we are seeing slowing employment or more unemployment, as we do in the tech sector here, is it fair to think that depending on the composition you might actually see an increase in productivity too...
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@rohanpaul_ai
Rohan Paul
on x
US tech jobs are getting demolished in ways not seen since 2008 and the dot-com bust. Friday's shockingly weak jobs report showed a loss of 92,000 jobs in February across the broader economy, far below the expected gain of 55,000 jobs. The types of jobs lost, and the timing of [i…
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@josephpolitano
@josephpolitano
on x
Here's a longer-term chart of US tech employment growth—the only thing that compares to the scale and length of current job losses is the dot-com bust [image]
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@prietschka
Paul Rietschka
on bluesky
I keep saying: the future of tech jobs is no tech jobs. — Expect anywhere from 1/4-1/2 headcount reduction overall, and that will be permanent, people. In the US we're already seeing more offshoring as there are virtually no labor laws, and any that exist formally aren't enfor…