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All measured data points suggests developers should expect to continue high paying wages. Wage growth continues to rise: https://www.atlantafed.org/chcs/wage-g
by larrymyers 4y ago
All measured data points suggests developers should expect to continue high paying wages.
Wage growth continues to rise: https://www.atlantafed.org/chcs/wage-growth-tracker https://www.atlantafed.org/chcs/wage-growth-tracker
Unemployment is still low: https://tradingeconomics.com/united-states/unemployment-rate https://tradingeconomics.com/united-states/unemployment-rate
While it's true that many tech companies are doing layoffs right now or having some form of a hiring freeze in place, it is likely to be temporary as the excess hiring from the past two years unwinds a bit. Many public tech companies with high P/E ratios are just finally having to face the reality that profitable business models must emerge from high growth markets eventually.
In general the US economy is still doing well, despite persistent inflation, and historically high demand jobs that require a college education have weathered negative economic trends better than most professions.
If you are an experienced, competent software engineer I would expect there will be more jobs than candidates for quite some time, and as a career will continue to be a quite lucrative.
- pevey 4y agoI suspect in 5 years we will look back and see a trend that all of these tech layoffs supercharged the current crop of tech startups. Seed and series A stage companies have been starved of talent for a long time now.