Data showing the 2024 tech job market is far stronger than 2023
- There are 29.5% more tech job openings today than the low in March '23 (and the positive trend has been largely steady)
- The YoY number of average daily tech layoffs has declined by roughly 20%
The following data was gathered from the two most comprehensive sources out there: TrueUp.io and Layoffs.fyi.
Note: the difference in total numbers is due to TrueUp's much larger dataset (it tracks more startups & non-US markets). They both still show a nice improvement, e.g. the decline in average daily layoffs is around 24% on TrueUp and 14% on Layoffs.fyi.
TrueUp.io
- There are approximately 211K open tech jobs today; there were 165K last March. That said, the peak was 478K in April '22.
- In 2023, there were approximately 429K people laid off by 2K tech companies (an average of 1,175 people/day)
- So far this year, there have been approximately 117K people laid off by 539 tech companies (an average of 894 people/day)
Layoffs.fyi
- In 2023, there were approximately 263K people laid off by 1,200 tech companies (an average of 721 people/day)
- So far this year, there have been approximately 81K people laid off by 287 tech companies (an average of 619 people/day)
If it doesn't feel like it's improving, please hang in there. No market moves in a straight line...but at least the bumpy ride appears to be on the right track!