"Employers are no longer aggressively expanding their workforce, fewer individuals are leaving their jobs, and those who do are finding it challenging to re-enter the job market."
"It was not a great month of data, but expected given the circumstances. Employer tech job postings continue to hold up, so that's a possible sign that hiring will resume as companies find their bearings."
In April, the tech industry experienced a significant downturn, losing 214,000 jobs despite the overall unemployment rate remaining steady at 4.2%. This decline is attributed to companies prioritizing AI roles and skills-based hiring, resulting in a shift in labor market dynamics. Tech unemployment rose to 3.5%, and while the tech services sector reported some hiring gains, they could not compensate for losses in manufacturing and telecommunication. Employers are taking a conservative approach to recruitment, causing hiring slowdowns across the sector.
Read at Computerworld
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