Thank you for covering the actual fact. The situation is actually worse then it appears since a lot of contractual roles have been ended which doesn't count as layoff. Also the freelancing jobs are drying up as well.
I still see people on Reddit saying they have overemployment, meaning they have at least two jobs at the same time. I'm sure that's possible, but it would be kind of like having more than one spouse! One is quite enough! 😁
I am not from US , but if the situation is so much desperate as you pointed out 200+ applying for a single post....they need to sound the alarm over to government over lack of jobs-jobs been taken away due to AI...
Yeah it is impossible to stand a chance if there are 100s of people applying. I think it shouldn’t be allowed to layoff positions that are already filled due to AI. Just seems so wrong
According the government numbers there are plenty of job openings, this Biden government is literally lying, cooking numbers and gaslighting people as if we’re the idiots. He imported 1.5 million international students, there is storage of H1Bs or L1’s, it’s all for cheap labor. He’s letting these companies ship jobs overseas, this government is soo corrupt, letting companies buy thousands of single home families, sending 100’s billions to other countries which is money laundering. All these democrats has to offer to win the election is do lip service about abortion rights, gay rights, and racism bs Now it feels like we actually shouldn’t have Women voting rights they are soo easy to manipulate by the government or corporations.
Those numbers are not accurate. I read a post by a recruiter who said that typically only less than 10% of those applicants actually qualify for the job. Others don’t meet the minimum requirements (for example they are located in another country), or haven’t even applied - sometimes LinkedIn counts clicks on jobs as applications.
@@Digger-Nick Pretty much, we let go of Jr devs because of the companies' mistakes + covid. AI had nothing to do with it and we have not hired any new devs since. I am simplifying a lot of this, but other companies did the same.
@@plop_plop_plophas nothing to do with ai any time they lay people off their stocks rally… investors like when companies go lean in this economy because they’re showing they’re going to have a profitable year by cutting back meaning the investor can make money. So that positive feedback loop is hurting employers as these companies “right size”. AI has nothing to do with it. In fact, these companies aren’t innovating at all in this environment. They’re maintaining more than creating and that says a lot.
This. "We're using AI instead of expensive humans" doesn't sound good for potential employees or people reading the news, but it sounds great for stock prices. When a profitable company starts laying off thousands of people, it's all about stock prices, bonuses and greed. Tech has had ups and downs before. If the current downturn follows the same pattern, we should see a hiring frenzy when companies go back into growth mode. I'm guessing that will be when interest rates drop and venture capital starts flowing again, but maybe I'm just cynical. And no, generative AI won't be able to replace skilled software engineers. Have these people even used ChatGPT?
Yet we will still issue 85,000 (general) H-1b visas. And most of those H-1b will be used to fill IT job. My guess is that this will be unchanged from previous years, at about 70% (IT, Software). So, what this means is that companies look abroad first, usually to the home country of the hiring manager. Please read DOJ vs Facebook 2020, 2600+ cases of discrimination against better qualified local engineers, in order to protect foreign engineers from better qualified (by Facebook's own admission to Federal Investigators) locals. Facebook settled this case, out of court, they never challenged the statements of their own HR employees made to Federal Investigators. Lying to a Federal Investigator carries a possible 10-year prison term for obstruction of justice.
According the government numbers there are plenty of job openings, this Biden government is literally lying, cooking numbers and gaslighting people as if we’re the idiots. He imported 1.5 million international students, there is storage of H1Bs or L1’s, it’s all for cheap labor. He’s letting these companies ship jobs overseas, this government is soo corrupt, letting companies buy thousands of single home families, sending 100’s billions to other countries which is money laundering. All these democrats has to offer to win the election is do lip service about abortion rights, gay rights, and racism bs Now it feels like we actually shouldn’t have Women voting rights they are soo easy to manipulate by the government or corporations.
lol keep blaming on Chinese and Indians then if that makes you feel better. Do u know the percentage of companies that sponsor h1b? Do u know that why companies ask if you need sponsorship? Also do you know what perm is for green card application? Locals are definitely preferred. You have no idea how much efforts international students put in to get a good job, it’s thousands of resume submission and years of hard work. If u apply more than 1000 jobs in half a year and spend every spare time practicing leetcode and coding skills, and still not get a job, then blame.
@@Hideenlayer123The reality is you are completely wrong. Most of the coding jobs, that go to foreign workers, are low level jobs. Most of the H-1b workers, are freshers right out of college. We know this from statistics compiled by the U.S. government. We also know, most (more than half) of the H-1b visas go to Offshore Outsourcing companies, who bring in trainees. We know that foreign workers are protected from better qualified local competition, we know this from DOJ vs Facebook, where Facebook refused the free offer of the San Francisco Chronicle to place the Green Card certification job ads, also on the Chronicle jobs website. If it were truly an open competition for a job, Facebook would place these job ads not only on the Chronicle website (which they could do so, for free), but also on Facebook's own job's website. They never did. (BTW, the investigation found 2600+ cases of discrimination against better qualified local U.S. engineers by Facebook, over just a 1.5 year period covered by the investigation.) Instead. Facebook (and Apple did the same thing) buried the job ads in 2-Sunday print editions of the SF Chronicle, and would only accept a stamped letter containing a local's resume sent to a lawyer's office in Palo Alto. Because they were looking for foreign workers first and only. If Facebook was truly looking around, farily, and without prejudice, they would have not done these things. If it were an equal competition for a job, then Facebook would have allowed their HR to forward the resumes of the better qualified locals (they turn away). Better qualified than foreign workers doing the exact same job (but being certified for a Green Card), according to what Facebook's own HR personnel told Federal Investigators. Keep in mind, Green Card certification means you checked the local market first. Facebook deliberately did not check the local market. They in fact, lied when they said they did. They in fact committed MASSIVE discrimination against of U.S. nationality. So if you support such bigotry, they I do indeed blame YOU and everyone else who would support such racism. No, it is you who whine about having to compete with better qualified local U.S. engineers. You cannot defend such patently offensive and bigotted policies. Such policies are born of whining low level managers, that refuse to consider someone who is not from their own country. And immigration lawyers work with low level managers, to craft a competition protection scheme on their behalf, that prevents Facebook from acquiring the best talent for the job. It is corrupt. It is a fact bigotry and discrimination, by the very Federal definition of discrimination in the workplace. If this case were in any way not true, Facebook would have let the case go to trial. But no, Facebook never challenged the case in court, because they knew their own personnel were telling the truth, they would have lost, and it would have been ugly. The statements made are also supported from evidence gathered from the San Francisco Chronicle. We have strong, and complete evidence that mid-level managers, from a certain country, engage in job discrimination against better qualified local engineers. Please go read these indictments. Also, do some real research. Also, don't be tone deaf to the reality of the last 2-years. There is no shortage of local engineering talent in the U.S. already, yet there were still 400,000 requests for H-1b visas. And that occurs because mid-level managers refuse to look in the local market for the abundant local talent.
I'm glad you touched on the subject of AI being partially responsible for the layoffs of tech companies. The greedy companies are boosting their profit margins at the expense of the workers who built them up! Now, the CEOs can get those bonuses they so richly deserve! I am waiting on the day they get let go and a computer takes over their positions!
Well it’s interesting how you don’t hear of the executives getting laid off or taking pay cuts. If a company has to resort to laying off departments then surely there is an issue with leadership for not leading correctly ☠️
@@codingwithdee Actually executives get bonuses for having still a positive bottom line in a crisis. They are actually willing to sacrifice the future of the company for their own short-term profit. Are are more-or-less doing a Boeing.
I didn't get an Software Engineering job after graduating. I did a product role in tech. I am unemployed for 6 months now and have started to panic thinking going back into SE but after watching this video I really don't know xD Maybe the best thing right now would be to get Project Management related jobs. A tech background may help. I'm not good at SE anyways
I built my skill set to be a jack of all trades instead of a master of one. It helps insolate my career from market swings and new tech. Seems to be working for me so far.
I survived 2009. I worked 2 jobs at Taco Bell and a substitute teacher and left he IT industry for 3 years until the industry recovered. I took temp help desk roles afterwards and it took until 2015 until I recovered. I am sorry for those reading my comment, but this is your future. Do what I did and delivery Pizzas so you do not have gaps on your resume and take whatever is available. You do not have options anymore for a few years
@@mostofamojlish8255 Welcome to life my friend! 🙂 One of the things I learned is humility and also why I failed during the recession where I fed on my ego. Buffet's famous saying is you can see who is skinny dipping when the tide goes out. Learn from it and be a better employee and grateful for what you have. In the end after 8 to 10 years I recovered in my mid to late 30s. These days I get angry at 23 year old 6 fig aires whining after that experience lol. Wisdom is gained
@@mostofamojlish8255 after the election Trump win will change the trajectory But all our tech idiots vote Biden We had surpluses jobs during Trump, everything was perfect other than the BLM democrats created BS
Yes my company has been through so many waves of layoffs this year it’s insane. Thankfully I have a degree in the medical field I can fall back on but still scary times in the job market all over 😢
If you're only looking at 2008, 2014, 2022, 223, 2024.....you're missing the Dotcom crash. IT salaries took almost a decade to recover from that. After the Dotcom crash, it wasn't just the jobs, it was the salaries for those jobs. Having been around for decades of waves, it's a good idea not to try to apply what was all the rage two years ago and think the same thing will be in demand when the sector recovers.
AI is replacing some restaurant jobs also, it affect alot of jobs not just tech. Working for tech company is risky, you help them build the program to operate the AI robots, software, and websites and they let people go without any care and without plenty of notice. Who knows how long AI is here to stay???
According to layoffs: one of the minor reasons many people got laid off. In the tech industry if you look on TH-cam. And you see some of these people walking around I'm making six figure income at Google. Walking around Google with their laptops and doing no productivity. That's a small part of it. And over hiring large tech body counts. And just a lot of people just aren't able to code. Just my opinion FYI
Try the public sector (government, education, etc). The salaries may be lower, but the benefits can be better (public pensions), they are more stable and don't work you to death. You won't make huge amounts of money and be able to retire at 40, but if you really think you are going to do that, you are deluding yourself. And an additional benefit, you can do work that benefits people instead of just shareholders and the CEO.
For one reason or another I've had several of these 2024 coding/software job market videos on my feed lately. What they all seem to miss is the number of companies cutting staff or reducing open jobs in the US while hiring abroad. Moreso than demand being down or AI taking over I think for many public companies we're seeing them trying to improve the bottom line without relying on increasing revenue
Everybody speaks about software development, but what about IT infra/maintenance? As a sysadmin I see increase in job offers I get via Linkedin. Seems everybody has servers, networks, middleware apps to maintain and they pay very decently. I do not complain, I wonder what's the reason and if it's about to last?
Financially, for a company to claim AI use, looks fantastic. "We're still performing and now we can use AI" is really a way for them to cover their real problems user-base atrophy, monetization deficits, no real PMF etc etc. Instead now they look like forward thinking geniuses. Then there's the budget adjustment to pay their top C Suite brass...is Tesla firing 15,000 employees to save money and their CEO asking to be paid $56,000,000,000.00. an amount equal to 49 years of pay for the 15,000 people they just fired at 75,000 per year.
I've heard the tech layoffs may be caused by a change to tax laws involving tech employees. Companies could depreciate tech expenditures in a single year but they can't do that now. Has anyone heard about this? Is it a significant cause of tech layoffs?
The majority of my friends who graduated university a year before me had no portfolio and very limited coding skills, no exposure to frameworks, or coding tools aside from what we learnt in our classes (more theory focussed). I personally don't have the time and energy to develop a portfolio now as I have bills to pay. Forced to work in help desk as this was the only opportunity I found. Might have to give up the idea of venturing into software development. It's sad, but it is what it is.
As far as I'm not happy that salaries were slashed due to the situation, I'm soo happy that the market is very competitive at the moment and people who aren't cut for the job stopped posting TikToks of how they earn 6 figures drinking latte / matcha all day - because guess what? They are unemployed lol!
I think AI can easily replace workers in health care, therapy, civil engineering and pharmacy. Human doctors can use health "autopilot" to diagnose and prescribe, which will lead to less need for human doctors. Similar in all other professions. I am not sure what "Personal care and home health" is, so I won't comment.
The worst part is, people say: "You are in demand, you should be able to find a job in a no time. You are just lazy or looking for the wrong jobs." I think these companies will start hiring again massivally when they realize that AI is not doing these jobs particulary well. It's because they WANT the AI to do it, it's an experiment or just a lame excuse. I'm optimistic it will go up when they wake up.
This is depressing. What guts my goat the most is when I see a company lay off thousands of talented people and the very next month announce record earnings. It's all to please the stock market. If you can't show profits organically, you can show them but gutting your largest expense, which is the talent. That said: I'd say this is a short term gain for the company with a very real possibility of long term damage that will be harder to repair.
I make over 150k a year in the government sector, I have a pension, a matching 401k and generous benefits such as Medical dental and vision coverage. The best part of my career is job stability, been here 15 years and never had to worry about getting laid off that is peace of mind! In 5 more years I will be eligible for retirement and can start collecting my pension check...I feel very fortunate.
its pretty ironic that AI is the cause for the loss of jobs in tech, but they need devs to help develop the AI so that it can replace more devs. Honestly, my gut feeling on this is that a lot of the noise around AI is hype, not all, but a lot. When this calms down and when they get Biden out of the white house so we can actually have a functioning economy, things will start picking up.
"...when they get Biden out of the white house" ???? Get serious. Getting Biden "out" will not help boost tech jobs, but it will make life harder for all the people out of work or underemployed. You know Fat Cat CEOs will love the tax breaks Trump is promising but all that will just line shareholder pockets. Sadly, whichever way the election goes, I don't see that "The sun will come out tomorrow", Annie.
@@VTSifuSteveTax cuts create more jobs. The rich create jobs. This is basic economics. The only problem with tax cuts is that it increases the national debt. Trump also put heavy restrictions on those h1b visas. He needs to be put back on office
@@VTSifuSteve Trump was president we all had tech jobs , Biden created inflation and high interest rates by printing money sent it all to Ukraine and israel
Hey, Dee, I want to see this revisited next year is it possible for you to rehash this after Q1 next year? My dad literally just got laid off (forced retirement) last Monday as one of Intel's 15k cuts. The info in this was relevant when it was posted but it didn't age well. I kind of would like a post-mortem from you?
very likely in the US, because the US has been absorbing a lot of the world's tech workforce due to bottomless financing by big tech and venture capital I would speculate that most of the world actually needs a lot more tech workers with lots of unfilled job postings, the problem is that the salaries of tech workers in the united states are drastically blown out of proportion, so that if you are to work somewhere else you will have to lower your salary expectations a lot even in my own country of Norway, for instance, which is a great country to live in and very wealthy, with lots of available tech jobs for anyone with a solid education or significant experience, you still have to lower your salary expectations compared to anything found in Silicon Valley
It’s not cruel, it’s business. Companies are profit driven at the end of the day. No matter how good employees are, if a company can increase, profit, margins, and cut costs by replacing jobs with automation (in this case, AI) they will do so, without hesitation. The job you work for is not your friend. And if they claim their employees are family, then just picture a lion licking a baby deer. At some point there is a good chance that thing is gonna be food.
Situation is terrible. It looks like you are stuck in the similar paradox: no experience, no job, no experience... At this time it is no networking, no job, no networking, even if you are an experienced dev. It seems to me that in a nearest 2-3 years this low demand will force significant percent of people to leave IT and it will stabilize market somehow. Not earlier, bad times.
there is a shortage of medical personell in general in the world (and always has been), so that if you do decide to become one, you're likely to have a very secure future with finding jobs with decent salary
AI it certainly not taking any tech jobs. We are just now starting to figure out how to apply it. Yes employers can ask for workers to work in the office and low ball them right now but they are not going to retain these people. Someone will offer them a remote or a little more pay and they will be gone. Not a good long term hiring tactic.
AI is capable of taking jobs. What happens when AI enables one employee do the job of three? Instead of having a team of nine engineers, now you only need three in order to remain just as productive. It seems these companies are always looking to cut costs and trim fat whenever possible.
@@chrisstucker1813 think about this, AI already allows me to do the job of 3-4 engineers. Now I am a single handed threat to some tech companies products. I am already working on a competitor to one companies main product while they are busy firing their techs to prop up their stock price.
@@chrisstucker1813 what happens when a couple of motivated techs using AI can now compete with a tech companies entire development team? They get coded out of existence, thats what. We are at the beginning stages of a all out tech war enabled by this technology.
these companies are worth over 1 trillion dollars , you telling me they dont have enough money to pay for more employees this is BS in my opinion. Its mainly corporate Greed!
The sad truth is that the western economic system is debt saturated. New money are created by issuing new loans. Banks make shittons of money because the productive economy shrinks and stagnates. The "financial economy side (stock market, houses) etc. has inflation. Now, thats stagflation. It's going to suck.
Ai does not replace software engineers. They operate as a better google. They help you search for basic syntax that even a 13 year old can write. The truth is people are selfish and they want more money.
The problem with the "too much" supply is that a large majority of that supply are unqualified. This whole "learn to code" movement has made a mockery of professional software development and companies are on to it.
The issue is futher exasperated with highschool and college seminars falsly telling students there is a huge demand for tech jobs and encouraging students to pursue tech creating more and more demand as they graduate.
I think you're better than this is a data analyst. This comes off as extremely biased towards a doomer perspective, which is probably pretty good for the algorithm, but it doesn't appear that you made any attempt to steel man or make any case in the more optimistic direction. First off, the idea that AI is actively taking Jobs is unsubstantiated. I certainly understand that companies were not State publicly if they were replacing their workforce with ai, but if you understand where the AI is at and you look at systems like Devin and others, you can see that we're a ways off from successful replacement. Second, tech has senn several downturns with layoffs much worse than the last round, and sure enough, the engineering jobs came back, even if they looked a bit different. Third, if you look at true up and other sources as opposed to simply relying on indeed which is a pretty outdated sight, you'll see that the stories a bit more complicated in terms of a number of open roles. There's been several massive growth spurts post layoffs. Finally, AI roles are not fundamentally different than other IT and SWE jobs. AI systems rely on fluent data pipelines and easy to use software. It's one thing to not have a particular passion for neural nets or llms, but I would say that if ai and powerful statistical systems aren't interesting to you at all, then you don't find technology isn't interesting, and you probably shouldn't be in the tech sector. But if you do like building technology, stay fluent in the most recent tech, be patient, and work hard. Nothing in life or ever will be a guarantee, but pessimism without skepticism is just cynicism. I'm not trying to sit here and say everything is sunshine and rainbows, but the presentation of the data I found very unbalanced, and you strike me as smart enough to do better😊
people like you are living in a dream world. Everything she said is completely accurate. The tech market has crashed big time partly because of the economy and partly by AI. Why should she sugar coat her findings just so you can sleep better at night. The reality is by the time the economy has recovered, AI will have completely replaced 90% of software engineers. The tech industry will never be the same again. If I was you I would start retraining to become a plumber, construction worker or some manual labor job because the tech space has changed forever and will never go back to what it was. The tech space will only now be a place for the nerds to which it was initially intended for. You are now up against hundreds of thousands of people going for the same job, which will eventually get replaced by AI. It was fun while it lasted 😂😂😂😂
“Invest multiple years of your life and thousands of dollars into getting a piece of paper that has previously never been needed in the field you likely already have established years of professional experience in without a degree.” Sound strategy.
A degree shows an employer that you can show up somewhere consistently for four years and that you are able to get your work done. It also teaches you how to learn. Sure, you can learn how to code on Udemy or whatever and you can get a job if you’re good, but if you did not learn any work ethic during that period what use was it?
What about Section 174, and US interest rates? I think those are the most important factors in why the coding job market hasn't been the best for the last few years, not sure why youtubers are not talking about it, just saying the same stuff about AI and other useless information :/
I hope you're right and wrong at the same time, because if they resolve it the way they've been doing things till now, it's gonna make Soviet Russia look better.
@@snorriivan6365 human objective is to overcome all nasty challenges designed by man, G-D picks the ones with integrity and ethic. When it is all over, all of them will go shick Shak shock😅😂🌹
Hi Dee, If somebody can show us how to get meta ai chat to work on a windows laptop that would be great! It works on my mobile, but, after logging in with Fbook in windows, the chat interface at meta,ai is no longer available.?
Not sure why every country have government when they don't want to do anything for people. Gov must restrict company to use AI at certain level and if company goes beyond the limit then company must pay 4 time of tax, implement this and see how AI use will be reduced. Current impact is job cuts but no one thinks for next 20 year that from where we will get knowledge if AI will do everything. Simply just think collage pass out student working for tech and build experience over years now how we will achieve this if company is not ready to give job to freshers? Even if there will be bug in AI who will correct that as no one knows coding in next 10 year because our company was developing code with AI, now no one knows what is meaning of this error in code....LOL!!!! Concern is knowledge is getting vanished with AI, people will become more dumb day by day and lazy too!!
have people become more dumb when a calculator was released? Mathematics of that time was saying the same thing I suppose. I think that nothing has changed drastically here, after a while the complexity of tasks will increase to the level unreachable for LLM, and companies will need more workers again, just more qualified..
@@aksel58 As a matter of fact, yes. Most people wouldn't know how to survive, if they were abandoned in nature, away from society. Prior to the industrial revolution, everyone knew how to live off the land and not be dependent on society for their survival.
It’s not AI, it’s the corrupt Biden government letting these companies run the country According the government numbers there are plenty of job openings, this Biden government is literally lying, cooking numbers and gaslighting people as if we’re the idiots. He imported 1.5 million international students, there is storage of H1Bs or L1’s, it’s all for cheap labor. He’s letting these companies ship jobs overseas, this government is soo corrupt, letting companies buy thousands of single home families, sending 100’s billions to other countries which is money laundering. All these democrats has to offer to win the election is do lip service about abortion rights, gay rights, and racism bs Now it feels like we actually shouldn’t have Women voting rights they are soo easy to manipulate by the government or corporations.
This young lady speaks beautifully and clearly, with a bit of an English ...and perhaps Indian(?) accent. Not to mention that she's stunning. Either you're a hillbilly or you're just bitter!
If all of you tech guys feel these companies are going to give you all that kinds of salary like the previous years you'll better think again.....when AI can do it cheaper.
So Ai jobs are increasing but it would be stupid if people will work for this jobs because if ai is already taking jobs, then when people go working to make the ai performance much better then it will take their work also over time! So we are breaking our own hands by making the ai better then us! We are killing ourself not knowing this, just like the theory of how to catch a wolf.
"AI will eventually replace all of you." Not me! I'm not in tech ...and I'm retiring at the end of this year. I'd laugh and call y'all "suckers" except I've got a son who was a well paid tech wiz, who got laid off and is now working floor sales at Home Depot. Dismal!
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Thank you for covering the actual fact.
The situation is actually worse then it appears since a lot of contractual roles have been ended which doesn't count as layoff. Also the freelancing jobs are drying up as well.
we arent getting jobs fellas. dont quit your day job
I tried to be positive in the video… but the future is pretty dismal
I still see people on Reddit saying they have overemployment, meaning they have at least two jobs at the same time. I'm sure that's possible, but it would be kind of like having more than one spouse! One is quite enough! 😁
@@codingwithdee thank you for being honest. It won't take long till ai codes better than us.
What day job? :(
fuck i quit my job today
I am not from US , but if the situation is so much desperate as you pointed out 200+ applying for a single post....they need to sound the alarm over to government over lack of jobs-jobs been taken away due to AI...
Yeah it is impossible to stand a chance if there are 100s of people applying. I think it shouldn’t be allowed to layoff positions that are already filled due to AI. Just seems so wrong
According the government numbers there are plenty of job openings, this Biden government is literally lying, cooking numbers and gaslighting people as if we’re the idiots.
He imported 1.5 million international students, there is storage of H1Bs or L1’s, it’s all for cheap labor.
He’s letting these companies ship jobs overseas, this government is soo corrupt, letting companies buy thousands of single home families, sending 100’s billions to other countries which is money laundering.
All these democrats has to offer to win the election is do lip service about abortion rights, gay rights, and racism bs
Now it feels like we actually shouldn’t have Women voting rights they are soo easy to manipulate by the government or corporations.
Ai isn't the reason for lack of jobs lol. It doesn't help but it's not the cause
Those numbers are not accurate. I read a post by a recruiter who said that typically only less than 10% of those applicants actually qualify for the job. Others don’t meet the minimum requirements (for example they are located in another country), or haven’t even applied - sometimes LinkedIn counts clicks on jobs as applications.
@@Digger-Nick Pretty much, we let go of Jr devs because of the companies' mistakes + covid. AI had nothing to do with it and we have not hired any new devs since. I am simplifying a lot of this, but other companies did the same.
I think AI is the polite way to lay off developers. The real reasons are economics.
AI has contributed. Look at FAANG/MAANG - they have been firing in spite of a swell in their profit.
@@plop_plop_plop They overhired during the past 10 years, the fact is - they never needed that headcount.
@@plop_plop_plophas nothing to do with ai any time they lay people off their stocks rally… investors like when companies go lean in this economy because they’re showing they’re going to have a profitable year by cutting back meaning the investor can make money. So that positive feedback loop is hurting employers as these companies “right size”. AI has nothing to do with it. In fact, these companies aren’t innovating at all in this environment. They’re maintaining more than creating and that says a lot.
This. "We're using AI instead of expensive humans" doesn't sound good for potential employees or people reading the news, but it sounds great for stock prices. When a profitable company starts laying off thousands of people, it's all about stock prices, bonuses and greed.
Tech has had ups and downs before. If the current downturn follows the same pattern, we should see a hiring frenzy when companies go back into growth mode. I'm guessing that will be when interest rates drop and venture capital starts flowing again, but maybe I'm just cynical.
And no, generative AI won't be able to replace skilled software engineers. Have these people even used ChatGPT?
Developers were laid off to save money to buy GPUs. But AIs aren't good enough to actually replace devs.
"I create AI to simplify tasks... only to find myself swiftly replaced and unemployed."
Yet we will still issue 85,000 (general) H-1b visas. And most of those H-1b will be used to fill IT job. My guess is that this will be unchanged from previous years, at about 70% (IT, Software).
So, what this means is that companies look abroad first, usually to the home country of the hiring manager.
Please read DOJ vs Facebook 2020, 2600+ cases of discrimination against better qualified local engineers, in order to protect foreign engineers from better qualified (by Facebook's own admission to Federal Investigators) locals.
Facebook settled this case, out of court, they never challenged the statements of their own HR employees made to Federal Investigators. Lying to a Federal Investigator carries a possible 10-year prison term for obstruction of justice.
Add on this these h1b tech workers fake most if not all of the work experience. They go these shady indian consulting firms to "market" themselves.
Not only visa candidates are competing white collar jobs, they also competing blue collar jobs too. Both blue and white collars are affected.
According the government numbers there are plenty of job openings, this Biden government is literally lying, cooking numbers and gaslighting people as if we’re the idiots.
He imported 1.5 million international students, there is storage of H1Bs or L1’s, it’s all for cheap labor.
He’s letting these companies ship jobs overseas, this government is soo corrupt, letting companies buy thousands of single home families, sending 100’s billions to other countries which is money laundering.
All these democrats has to offer to win the election is do lip service about abortion rights, gay rights, and racism bs
Now it feels like we actually shouldn’t have Women voting rights they are soo easy to manipulate by the government or corporations.
lol keep blaming on Chinese and Indians then if that makes you feel better. Do u know the percentage of companies that sponsor h1b? Do u know that why companies ask if you need sponsorship? Also do you know what perm is for green card application? Locals are definitely preferred. You have no idea how much efforts international students put in to get a good job, it’s thousands of resume submission and years of hard work. If u apply more than 1000 jobs in half a year and spend every spare time practicing leetcode and coding skills, and still not get a job, then blame.
@@Hideenlayer123The reality is you are completely wrong. Most of the coding jobs, that go to foreign workers, are low level jobs. Most of the H-1b workers, are freshers right out of college. We know this from statistics compiled by the U.S. government. We also know, most (more than half) of the H-1b visas go to Offshore Outsourcing companies, who bring in trainees.
We know that foreign workers are protected from better qualified local competition, we know this from DOJ vs Facebook, where Facebook refused the free offer of the San Francisco Chronicle to place the Green Card certification job ads, also on the Chronicle jobs website. If it were truly an open competition for a job, Facebook would place these job ads not only on the Chronicle website (which they could do so, for free), but also on Facebook's own job's website. They never did.
(BTW, the investigation found 2600+ cases of discrimination against better qualified local U.S. engineers by Facebook, over just a 1.5 year period covered by the investigation.)
Instead. Facebook (and Apple did the same thing) buried the job ads in 2-Sunday print editions of the SF Chronicle, and would only accept a stamped letter containing a local's resume sent to a lawyer's office in Palo Alto.
Because they were looking for foreign workers first and only. If Facebook was truly looking around, farily, and without prejudice, they would have not done these things.
If it were an equal competition for a job, then Facebook would have allowed their HR to forward the resumes of the better qualified locals (they turn away). Better qualified than foreign workers doing the exact same job (but being certified for a Green Card), according to what Facebook's own HR personnel told Federal Investigators.
Keep in mind, Green Card certification means you checked the local market first. Facebook deliberately did not check the local market. They in fact, lied when they said they did. They in fact committed MASSIVE discrimination against of U.S. nationality. So if you support such bigotry, they I do indeed blame YOU and everyone else who would support such racism.
No, it is you who whine about having to compete with better qualified local U.S. engineers. You cannot defend such patently offensive and bigotted policies.
Such policies are born of whining low level managers, that refuse to consider someone who is not from their own country. And immigration lawyers work with low level managers, to craft a competition protection scheme on their behalf, that prevents Facebook from acquiring the best talent for the job.
It is corrupt. It is a fact bigotry and discrimination, by the very Federal definition of discrimination in the workplace.
If this case were in any way not true, Facebook would have let the case go to trial. But no, Facebook never challenged the case in court, because they knew their own personnel were telling the truth, they would have lost, and it would have been ugly. The statements made are also supported from evidence gathered from the San Francisco Chronicle.
We have strong, and complete evidence that mid-level managers, from a certain country, engage in job discrimination against better qualified local engineers.
Please go read these indictments. Also, do some real research. Also, don't be tone deaf to the reality of the last 2-years. There is no shortage of local engineering talent in the U.S. already, yet there were still 400,000 requests for H-1b visas. And that occurs because mid-level managers refuse to look in the local market for the abundant local talent.
I'm glad you touched on the subject of AI being partially responsible for the layoffs of tech companies. The greedy companies are boosting their profit margins at the expense of the workers who built them up! Now, the CEOs can get those bonuses they so richly deserve! I am waiting on the day they get let go and a computer takes over their positions!
Well it’s interesting how you don’t hear of the executives getting laid off or taking pay cuts. If a company has to resort to laying off departments then surely there is an issue with leadership for not leading correctly ☠️
@@codingwithdee Actually executives get bonuses for having still a positive bottom line in a crisis. They are actually willing to sacrifice the future of the company for their own short-term profit. Are are more-or-less doing a Boeing.
AI is trash, it’s just hype, in fact they are moving jobs overseas
I didn't get an Software Engineering job after graduating. I did a product role in tech. I am unemployed for 6 months now and have started to panic thinking going back into SE but after watching this video I really don't know xD Maybe the best thing right now would be to get Project Management related jobs. A tech background may help. I'm not good at SE anyways
Become a police officer. It is a shit job and field that not a lot of people want, so that means you can get in easily.
I built my skill set to be a jack of all trades instead of a master of one. It helps insolate my career from market swings and new tech. Seems to be working for me so far.
What's that skill thou
I survived 2009. I worked 2 jobs at Taco Bell and a substitute teacher and left he IT industry for 3 years until the industry recovered. I took temp help desk roles afterwards and it took until 2015 until I recovered. I am sorry for those reading my comment, but this is your future. Do what I did and delivery Pizzas so you do not have gaps on your resume and take whatever is available. You do not have options anymore for a few years
Life sucks
@@mostofamojlish8255 Welcome to life my friend! 🙂 One of the things I learned is humility and also why I failed during the recession where I fed on my ego. Buffet's famous saying is you can see who is skinny dipping when the tide goes out.
Learn from it and be a better employee and grateful for what you have. In the end after 8 to 10 years I recovered in my mid to late 30s. These days I get angry at 23 year old 6 fig aires whining after that experience lol. Wisdom is gained
@@timgibney5590 May I ask what do you do now?
@@mostofamojlish8255 after the election Trump win will change the trajectory
But all our tech idiots vote Biden
We had surpluses jobs during Trump, everything was perfect other than the BLM democrats created BS
No that is not their future, there are million other industries to check and learn.
Companies are using AI as an excuse for normal reasons of layoffs, AI is not yet fulfilling the role of old jobs
Yes my company has been through so many waves of layoffs this year it’s insane. Thankfully I have a degree in the medical field I can fall back on but still scary times in the job market all over 😢
If you're only looking at 2008, 2014, 2022, 223, 2024.....you're missing the Dotcom crash. IT salaries took almost a decade to recover from that.
After the Dotcom crash, it wasn't just the jobs, it was the salaries for those jobs.
Having been around for decades of waves, it's a good idea not to try to apply what was all the rage two years ago and think the same thing will be in demand when the sector recovers.
AI is replacing some restaurant jobs also, it affect alot of jobs not just tech.
Working for tech company is risky, you help them build the program to operate the AI robots, software, and websites and they let people go without any care and without plenty of notice.
Who knows how long AI is here to stay???
According to layoffs: one of the minor reasons many people got laid off. In the tech industry if you look on TH-cam. And you see some of these people walking around I'm making six figure income at Google. Walking around Google with their laptops and doing no productivity. That's a small part of it. And over hiring large tech body counts. And just a lot of people just aren't able to code. Just my opinion FYI
Try the public sector (government, education, etc). The salaries may be lower, but the benefits can be better (public pensions), they are more stable and don't work you to death. You won't make huge amounts of money and be able to retire at 40, but if you really think you are going to do that, you are deluding yourself. And an additional benefit, you can do work that benefits people instead of just shareholders and the CEO.
For one reason or another I've had several of these 2024 coding/software job market videos on my feed lately. What they all seem to miss is the number of companies cutting staff or reducing open jobs in the US while hiring abroad. Moreso than demand being down or AI taking over I think for many public companies we're seeing them trying to improve the bottom line without relying on increasing revenue
Basically what my company did. Fired a bunch of US staff and opened an office in India. No H1B constraints with foreign direct hires.
Ahhhh companies aren't they beautiful?
Everybody speaks about software development, but what about IT infra/maintenance? As a sysadmin I see increase in job offers I get via Linkedin. Seems everybody has servers, networks, middleware apps to maintain and they pay very decently. I do not complain, I wonder what's the reason and if it's about to last?
Financially, for a company to claim AI use, looks fantastic. "We're still performing and now we can use AI" is really a way for them to cover their real problems user-base atrophy, monetization deficits, no real PMF etc etc. Instead now they look like forward thinking geniuses. Then there's the budget adjustment to pay their top C Suite brass...is Tesla firing 15,000 employees to save money and their CEO asking to be paid $56,000,000,000.00. an amount equal to 49 years of pay for the 15,000 people they just fired at 75,000 per year.
I've heard the tech layoffs may be caused by a change to tax laws involving tech employees. Companies could depreciate tech expenditures in a single year but they can't do that now. Has anyone heard about this? Is it a significant cause of tech layoffs?
The majority of my friends who graduated university a year before me had no portfolio and very limited coding skills, no exposure to frameworks, or coding tools aside from what we learnt in our classes (more theory focussed).
I personally don't have the time and energy to develop a portfolio now as I have bills to pay. Forced to work in help desk as this was the only opportunity I found. Might have to give up the idea of venturing into software development. It's sad, but it is what it is.
As far as I'm not happy that salaries were slashed due to the situation, I'm soo happy that the market is very competitive at the moment and people who aren't cut for the job stopped posting TikToks of how they earn 6 figures drinking latte / matcha all day - because guess what? They are unemployed lol!
I think AI can easily replace workers in health care, therapy, civil engineering and pharmacy. Human doctors can use health "autopilot" to diagnose and prescribe, which will lead to less need for human doctors. Similar in all other professions. I am not sure what "Personal care and home health" is, so I won't comment.
Are the "communication areas" from tech companies considered tech jobs? What about the cleaning staff?
I should’ve listened to my mom and become a pharmacist. :(
The worst part is, people say: "You are in demand, you should be able to find a job in a no time. You are just lazy or looking for the wrong jobs." I think these companies will start hiring again massivally when they realize that AI is not doing these jobs particulary well. It's because they WANT the AI to do it, it's an experiment or just a lame excuse. I'm optimistic it will go up when they wake up.
This is depressing.
What guts my goat the most is when I see a company lay off thousands of talented people and the very next month announce record earnings. It's all to please the stock market. If you can't show profits organically, you can show them but gutting your largest expense, which is the talent. That said: I'd say this is a short term gain for the company with a very real possibility of long term damage that will be harder to repair.
I make over 150k a year in the government sector, I have a pension, a matching 401k and generous benefits such as Medical dental and vision coverage. The best part of my career is job stability, been here 15 years and never had to worry about getting laid off that is peace of mind! In 5 more years I will be eligible for retirement and can start collecting my pension check...I feel very fortunate.
I do the same but for a bank (i have a pension like the govt), but since it's private sector, nothing is secured.
its pretty ironic that AI is the cause for the loss of jobs in tech, but they need devs to help develop the AI so that it can replace more devs.
Honestly, my gut feeling on this is that a lot of the noise around AI is hype, not all, but a lot. When this calms down and when they get Biden out of the white house so we can actually have a functioning economy, things will start picking up.
"...when they get Biden out of the white house" ???? Get serious. Getting Biden "out" will not help boost tech jobs, but it will make life harder for all the people out of work or underemployed. You know Fat Cat CEOs will love the tax breaks Trump is promising but all that will just line shareholder pockets. Sadly, whichever way the election goes, I don't see that "The sun will come out tomorrow", Annie.
@@VTSifuSteveTax cuts create more jobs. The rich create jobs. This is basic economics. The only problem with tax cuts is that it increases the national debt. Trump also put heavy restrictions on those h1b visas. He needs to be put back on office
@@VTSifuSteve Trump was president we all had tech jobs , Biden created inflation and high interest rates by printing money sent it all to Ukraine and israel
What is considered a tech employee. I mean All those jobs lost were of software engineers or what.
that's a good question
Hey, Dee, I want to see this revisited next year is it possible for you to rehash this after Q1 next year? My dad literally just got laid off (forced retirement) last Monday as one of Intel's 15k cuts.
The info in this was relevant when it was posted but it didn't age well. I kind of would like a post-mortem from you?
Brutal honesty. Thanks for that.
are those numbers (in the "what happened in 2023" section) from the USA? or Global?
very likely in the US, because the US has been absorbing a lot of the world's tech workforce due to bottomless financing by big tech and venture capital
I would speculate that most of the world actually needs a lot more tech workers with lots of unfilled job postings, the problem is that the salaries of tech workers in the united states are drastically blown out of proportion, so that if you are to work somewhere else you will have to lower your salary expectations a lot
even in my own country of Norway, for instance, which is a great country to live in and very wealthy, with lots of available tech jobs for anyone with a solid education or significant experience, you still have to lower your salary expectations compared to anything found in Silicon Valley
@@theamici aborbing? But the numbers show the workforce is shrinking
It’s not cruel, it’s business. Companies are profit driven at the end of the day. No matter how good employees are, if a company can increase, profit, margins, and cut costs by replacing jobs with automation (in this case, AI) they will do so, without hesitation. The job you work for is not your friend. And if they claim their employees are family, then just picture a lion licking a baby deer. At some point there is a good chance that thing is gonna be food.
We are working ourselves out of a job
Great content! thank you for your time spent on its creation!
Sooo should I still pursue cyber security certs or go for nursing ?
Thanks this depressed me.
Situation is terrible. It looks like you are stuck in the similar paradox: no experience, no job, no experience... At this time it is no networking, no job, no networking, even if you are an experienced dev. It seems to me that in a nearest 2-3 years this low demand will force significant percent of people to leave IT and it will stabilize market somehow. Not earlier, bad times.
Ah everyone should just be a surgeon.. cool
there is a shortage of medical personell in general in the world (and always has been), so that if you do decide to become one, you're likely to have a very secure future with finding jobs with decent salary
AI it certainly not taking any tech jobs. We are just now starting to figure out how to apply it. Yes employers can ask for workers to work in the office and low ball them right now but they are not going to retain these people. Someone will offer them a remote or a little more pay and they will be gone. Not a good long term hiring tactic.
AI is capable of taking jobs. What happens when AI enables one employee do the job of three? Instead of having a team of nine engineers, now you only need three in order to remain just as productive. It seems these companies are always looking to cut costs and trim fat whenever possible.
@@chrisstucker1813 think about this, AI already allows me to do the job of 3-4 engineers. Now I am a single handed threat to some tech companies products. I am already working on a competitor to one companies main product while they are busy firing their techs to prop up their stock price.
@@chrisstucker1813 what happens when a couple of motivated techs using AI can now compete with a tech companies entire development team? They get coded out of existence, thats what. We are at the beginning stages of a all out tech war enabled by this technology.
yes AI(anonymous indian) will take your job
these companies are worth over 1 trillion dollars , you telling me they dont have enough money to pay for more employees this is BS in my opinion. Its mainly corporate Greed!
Very informative, thanks
The sad truth is that the western economic system is debt saturated. New money are created by issuing new loans. Banks make shittons of money because the productive economy shrinks and stagnates. The "financial economy side (stock market, houses) etc. has inflation. Now, thats stagflation. It's going to suck.
Ai does not replace software engineers. They operate as a better google. They help you search for basic syntax that even a 13 year old can write. The truth is people are selfish and they want more money.
AI is going to be our downfall. Pretty soon almost everything will be done by AI....and then what?
The problem with the "too much" supply is that a large majority of that supply are unqualified. This whole "learn to code" movement has made a mockery of professional software development and companies are on to it.
The issue is futher exasperated with highschool and college seminars falsly telling students there is a huge demand for tech jobs and encouraging students to pursue tech creating more and more demand as they graduate.
I'm in a doctoral program and believe me, there are a lot of idiots making spaghetti
@@rtothec1234 you're worried they're doing a better job than you? 😂
@@rtothec1234if you're worried of bootcamp grads taking away your job you should resign right now. You're unworthy bruv😂
@@Draxare you mean supply.
I'n not in danger of getting laid off, but if it would happen I would build an app that is able to feed me.
Would say in 3-5 years
Great video, thanks!
I think you're better than this is a data analyst. This comes off as extremely biased towards a doomer perspective, which is probably pretty good for the algorithm, but it doesn't appear that you made any attempt to steel man or make any case in the more optimistic direction.
First off, the idea that AI is actively taking Jobs is unsubstantiated. I certainly understand that companies were not State publicly if they were replacing their workforce with ai, but if you understand where the AI is at and you look at systems like Devin and others, you can see that we're a ways off from successful replacement.
Second, tech has senn several downturns with layoffs much worse than the last round, and sure enough, the engineering jobs came back, even if they looked a bit different.
Third, if you look at true up and other sources as opposed to simply relying on indeed which is a pretty outdated sight, you'll see that the stories a bit more complicated in terms of a number of open roles. There's been several massive growth spurts post layoffs.
Finally, AI roles are not fundamentally different than other IT and SWE jobs. AI systems rely on fluent data pipelines and easy to use software. It's one thing to not have a particular passion for neural nets or llms, but I would say that if ai and powerful statistical systems aren't interesting to you at all, then you don't find technology isn't interesting, and you probably shouldn't be in the tech sector. But if you do like building technology, stay fluent in the most recent tech, be patient, and work hard. Nothing in life or ever will be a guarantee, but pessimism without skepticism is just cynicism.
I'm not trying to sit here and say everything is sunshine and rainbows, but the presentation of the data I found very unbalanced, and you strike me as smart enough to do better😊
people like you are living in a dream world. Everything she said is completely accurate.
The tech market has crashed big time partly because of the economy and partly by AI.
Why should she sugar coat her findings just so you can sleep better at night.
The reality is by the time the economy has recovered, AI will have completely replaced 90% of software engineers. The tech industry will never be the same again.
If I was you I would start retraining to become a plumber, construction worker or some manual labor job because the tech space has changed forever and will never go back to what it was.
The tech space will only now be a place for the nerds to which it was initially intended for.
You are now up against hundreds of thousands of people going for the same job, which will eventually get replaced by AI.
It was fun while it lasted 😂😂😂😂
I haven't had any problems yet, get a degree because people with degree will be recruited before you in this economy which makes fking total sens.
“Invest multiple years of your life and thousands of dollars into getting a piece of paper that has previously never been needed in the field you likely already have established years of professional experience in without a degree.”
Sound strategy.
A degree shows an employer that you can show up somewhere consistently for four years and that you are able to get your work done. It also teaches you how to learn. Sure, you can learn how to code on Udemy or whatever and you can get a job if you’re good, but if you did not learn any work ethic during that period what use was it?
AI has not replaced a single job in IT and it never will. Its just been an easy excuse(lie) to give for layoffs.
Add more certs from azure aws the more you have the better just don't rely on a degree
What about Section 174, and US interest rates? I think those are the most important factors in why the coding job market hasn't been the best for the last few years, not sure why youtubers are not talking about it, just saying the same stuff about AI and other useless information :/
The answer is: never.
H1B+flood of low skill immigrants
guess i'll sleep on my parents' couch
2028 is where everything peaks, 2030 one world order resolves everything in corporate, capitalist, Monopoly ways.
I hope you're right and wrong at the same time, because if they resolve it the way they've been doing things till now, it's gonna make Soviet Russia look better.
@@snorriivan6365 human objective is to overcome all nasty challenges designed by man, G-D picks the ones with integrity and ethic.
When it is all over, all of them will go shick Shak shock😅😂🌹
I hope AI will not take me out
Hi Dee, If somebody can show us how to get meta ai chat to work on a windows laptop that would be great! It works on my mobile, but, after logging in with Fbook in windows, the chat interface at meta,ai is no longer available.?
We don't need new immigrants to take on jobs since AI is taking on that role.
Better get your blue collars ready
Tech jobs are done. 💀
Not sure why every country have government when they don't want to do anything for people. Gov must restrict company to use AI at certain level and if company goes beyond the limit then company must pay 4 time of tax, implement this and see how AI use will be reduced. Current impact is job cuts but no one thinks for next 20 year that from where we will get knowledge if AI will do everything. Simply just think collage pass out student working for tech and build experience over years now how we will achieve this if company is not ready to give job to freshers? Even if there will be bug in AI who will correct that as no one knows coding in next 10 year because our company was developing code with AI, now no one knows what is meaning of this error in code....LOL!!!! Concern is knowledge is getting vanished with AI, people will become more dumb day by day and lazy too!!
have people become more dumb when a calculator was released? Mathematics of that time was saying the same thing I suppose. I think that nothing has changed drastically here, after a while the complexity of tasks will increase to the level unreachable for LLM, and companies will need more workers again, just more qualified..
@@aksel58 As a matter of fact, yes. Most people wouldn't know how to survive, if they were abandoned in nature, away from society. Prior to the industrial revolution, everyone knew how to live off the land and not be dependent on society for their survival.
@@aksel58Yes, because people used to know how to do complex mathematics without a calculator. Some could do it in their heads. 🤷🏾♀️
It’s not AI, it’s the corrupt Biden government letting these companies run the country
According the government numbers there are plenty of job openings, this Biden government is literally lying, cooking numbers and gaslighting people as if we’re the idiots.
He imported 1.5 million international students, there is storage of H1Bs or L1’s, it’s all for cheap labor.
He’s letting these companies ship jobs overseas, this government is soo corrupt, letting companies buy thousands of single home families, sending 100’s billions to other countries which is money laundering.
All these democrats has to offer to win the election is do lip service about abortion rights, gay rights, and racism bs
Now it feels like we actually shouldn’t have Women voting rights they are soo easy to manipulate by the government or corporations.
'Physician' is ripe for AI ... they are just glorified decision trees after all ;)
Interesting video! Just one thing, though: when you pronounce "tech" you say it like "tick". The correct pronunciation would be more like "teh-k"
Why do you care so much about that? There are no single correct pronunciation of words. Ever heard of accents?
This young lady speaks beautifully and clearly, with a bit of an English ...and perhaps Indian(?) accent. Not to mention that she's stunning. Either you're a hillbilly or you're just bitter!
The market is fucked
If all of you tech guys feel these companies are going to give you all that kinds of salary like the previous years you'll better think again.....when AI can do it cheaper.
Thanks. Also its “tEHk” not “tik” 😊
Don’t mock my saffa accent!
Capitalism has achieved its goal: making a lot of people become developers to drive down wages.
McDonald's is hiring
“Tech” is pronounced “Tek”, not Tik”.
That’s just my accent, I’m South African. I’m not changing the way I speak
@@codingwithdeeI love your accent. Pleasant on the ears
So Ai jobs are increasing but it would be stupid if people will work for this jobs because if ai is already taking jobs, then when people go working to make the ai performance much better then it will take their work also over time! So we are breaking our own hands by making the ai better then us! We are killing ourself not knowing this, just like the theory of how to catch a wolf.
AI will eventually replace all of you. 😄
"AI will eventually replace all of you." Not me! I'm not in tech ...and I'm retiring at the end of this year. I'd laugh and call y'all "suckers" except I've got a son who was a well paid tech wiz, who got laid off and is now working floor sales at Home Depot. Dismal!