![]() ![]() The Department of Labor announced last week that in March, the number of available jobs hit the country’s all-time record (11.5 million), meaning that The Great Resignation is far from over. I think that you'll see more tightening,” Will Price, a founder and general partner at Next Frontier Capital, told Protocol.īut even with that tightening, the overall unemployment landscape in the United States still heavily favors workers. And as people do that, in general across the economy will have this ripple effect. "I think the revenue outlook is ambiguous, so people are going to assume the worst and start pulling back on spending, if you will. So there is a slowdown, just compared to how hectic things were like six months ago.” “Whereas now, it’s probably still like an eight or nine. I’ve been recruiting for seven years I’ve never seen anything like that in terms of competition,” one recruiter told Protocol. ![]() ![]() “Let’s assume that late last year going into early this year, that was a 10. And recruiters for large tech companies and startups alike - granted anonymity because their employers would not allow them to speak on the record - said that while individual financial circumstances of specific tech companies concern them, they remain confident in the overall job market. While specific companies and industries will have to reckon with investors shifting their expectations, the underlying trends that have made tech jobs reliably well-paying and consistently available are only going to continue.Įxperts at recruiting firms Robert Half and Kelly Science, Engineering, Technology & Telecom told Protocol that they feel confident that demand will remain stable. The days of three competing offers and doubling salary for most engineers who so much as glance at a new job might be coming to an end over the next few months as some tech companies slow hiring.īut it’s still comfortably safe to assume that every decent engineer will always have a good job available. Could the extraordinary hiring efforts of companies like Meta - a company that was battling to hire as many engineers as possible only a year ago - have accidentally necessitated a correction in the opposite direction? And with it, software engineers and tech workers who’ve gotten used to the thrill of a white-hot job market are starting to ask if their halcyon employment market is fading. And Amazon, Alphabet and Apple joined Netflix and Meta with disappointing earnings reports and corresponding stock sell-offs.įor the first time in nearly two years, the narrative around Big Tech’s latest boom is starting to look shaky. Privately backed startups like Cameo and Mural laid off big chunks of their workforce. In the last two weeks, Netflix, Meta, Robinhood and Uber all initiated hiring freezes or layoffs. ![]()
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