Tech Job Losses Now Worse Than 2008 and 2020 Downturns
February jobs report reveals tech sector bleeding jobs faster than in the past two recessions.
The tech industry's job market just hit a grim milestone. According to the February jobs report, tech sector job losses since 2022 have now surpassed the pace of losses seen during both the 2008 and 2020 downturns.
That's a staggering comparison. Both of those periods were defined by sweeping economic chaos. Yet the current tech contraction is cutting deeper.
One economist noted that the post-2022 decline in tech employment has officially outpaced both previous recessions. The sector that once seemed bulletproof is proving anything but.
It's not just tech feeling the pain either. The broader job market is showing signs of weakness across multiple sectors, suggesting the labor squeeze extends well beyond Silicon Valley.
Bottom line: tech industries are losing their strength, and the numbers say this slump is historically bad.