A new ADP Research Institute report shows employment for software developers has declined from January 2018. Data elsewhere show fewer opportunities for people to fill software development and tech roles after the US labor market is no longer as hot as it was a few years ago.
“The tech job market has undeniably slowed since the end of 2022, cooling after a few years of rapid hiring during the pandemic recovery,” Daniel Zhao, Glassdoor’s lead economist, said in a written statement. “Rising interest rates, the end of pandemic-era trends and a slowing economy overall has crimped demand for tech workers.”
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Data elsewhere show fewer opportunities for people to fill software development and tech roles after the US labor market is no longer as hot as it was a few years ago.
“The tech job market has undeniably slowed since the end of 2022, cooling after a few years of rapid hiring during the pandemic recovery,” Daniel Zhao, Glassdoor’s lead economist, said in a written statement.
“Rising interest rates, the end of pandemic-era trends and a slowing economy overall has crimped demand for tech workers.”
“There was a slowdown in software developer hires in 2020, and then we had a couple bounce backs, and I think that’s reflective of how the pandemic really spurred this increase into digital service offerings,” Richardson said.
Nick Bunker, economic research director for North America at the Indeed Hiring Lab, told BI, “it’s unlikely we’ll see levels of demand like we saw in '21, in '22 for software development anytime soon.”
Data from Handshake, a platform where students can look for work, suggests a cooler demand for software developers or engineers.
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