Two things: 1. Job growth in May, June, and July of 2025 has been quite anemic across the board. 2. Fall of 2022 was the end of the post-pandemic hiring boom,

Two things: 1. Job growth in May, June, and July of 2025 has been quite anemic across the board. 2. Fall of 2022 was the end of the post-pandemic hiring boom, which affected young software developers at the time because Big Tech was hiring them like mad. They subsequently realized they had hired too many. Modern developer productivity tools are going to continue to suppress the hiring of new talent until a new capability is discovered that everybody has to have, right now, and thus expand hiring.