We have been experiencing a strange wave in the software development market for the last 6-12 months, if not longer. These are some of the reasons business analysts and management from various companies and countries around the world have put forward: 1. Over hiring during the Covid-19 Pandemic, so employers are not having to re-adjust in order to meet the demands, which unfortunately means layoffs. 2. Global organisations such as Google, Meta, Amazon and other tech companies have collectively laid off more than 100,000+ employees in the last year due to economic growth slowing down around the world, so other companies are following due to economic uncertainty. 3. There is lots of talk about Artificial Intelligence(AI) taking over software developer roles. 4. The Economic growth is slowing down and economies around the world have shrunk or are in decline due to monetary policies and other factors. 5. Being leaner may make companies more efficient Because of these and other challenges, it is even harder now for aspiring front-end developers to get jobs. Apart from those listed above, what are peoples' views on any other reasons not mentioned? Please comment below. #jobs #hiring #hiringdevelopers #economicgrowth #economy2024 #recruitment #recruiting #softwaredevelopment #itjobs #frontenddevelopment #hr
Mark Pearson
9mo
Blanket bans in the contract world
Biggest challenge I see is Hiring process broken.Frontend is now not frontend but its more of frontend and backend work in the job descriptions.
Doing my own thing until Jan 2025. Front end Developer, React/TypeScript/JavaScript, Node, and related technologies
9moHigh interest rates, and that is the only reason. Large IT projects were typically financed via previously prevailing ultra-low interest loans. If the money came from investors rather than loans, it was still because of low interest rates (large amounts of money could not be sitting in bank accounts earning close to zero). Once interest rates come down, it will all start moving, although I don't think rates will ever come back down to what we had for the last decade. World trade is no longer as efficient as it once was because the major powers no longer get on... causing limits to how low interest rates can go. The rule is always 'credit markets lead stock markets lead employment markets', and more so with IT because it is very capital intensive - if the credit market catches a cold, there is few months pause as it goes through the pipeline, but IT (and construction and transport) will be the one sneezing!