While both IT and engineering jobs in Big Tech involve computer technology, IT tends to be a cost center while Big Tech’s engineering groups are profit centers. (Or supposed to be).
It would be interesting to compare the unemployment numbers to comp.
It's a pain to link to the BLS data, since you have to generate a report which needs POST data in order to display properly.
I went and found the data and it maps with what indymike is saying. Layoffs are up, but not abnormally so (in line with previous years), while hiring is down compared to last year, it remains well above pre-2020 figure.
Overall, it looks like the IT job market is the best its ever been by a 20% margin, aside from 2021, which was slightly better than this year.
