Now what happens to all the laid off tech workers?
The US labor market looks strong. The unemployment rate is at a 50-year low, while layoffs continue to decline. But there is one notable exception and that is the technology industry. Almost every major tech company has announced layoffs in recent months, which is the exact opposite of how things played out over the past decade, when the sector was a bright spot in a sluggish job market. So what’s going on? Why now? Who is resting? And will these tech workers find new jobs quickly? Can they apply their skills in the emerging AI space? In this podcast episode, we bring back Patrick McKenzie, author of the Bits About Money newsletter, who previously worked at Stripe for six years. He talks about current trends in tech hiring and why it’s still a good idea to become an engineer.
February 10, 2023
