IT Jobs: A 60% Increase in Job Losses for Tech Professionals in 2024

Tech Job Market Shifting Landscape

In a recent report by Dice, it was revealed that 60% more tech professionals faced layoffs in 2024 compared to the previous year. This notable increase can be attributed to the current economic climate and the changing dynamics within the tech job market. The Tech Sentiment Report from Dice highlights that 16% of tech workers were impacted this year, up from 10% last year.

The Unemployment Trend

• 18% more unemployed tech professionals are actively seeking jobs in 2024.
• 19% of those affected are from tech companies, compared to 11% in other industries.
• A staggering 82% of laid-off tech pros began job searching immediately.

Employment Status Concerns

Only 38% of survey respondents reported full-time employment, down from 48% last year. This decline reflects growing uncertainty about job stability in the tech sector.

Prospects for the Future

Despite the challenges, a sense of cautious optimism remains, with over 30% of tech professionals believing in a rebound of the industry over the next year. The demand for skills related to artificial intelligence and machine learning is expected to surge in the coming five years.

HR Perspectives on Tech Hiring

A separate survey of HR professionals indicated that 70% expect an increase in tech hiring through 2024. This is a positive sign that, despite current difficulties, the tech field still presents growth opportunities.