The tech job market has seen some interesting shifts since the turbulent times of 2023.

Remember those massive layoffs that had everyone on edge?

Well, the good news is that things are looking up.

Let's have a look at the numbers.

Layoffs

In June, the tech industry experienced 76 layoff events, affecting over 11,000 employees.

Open engineering job roles on Indeed

Software development job postings on Indeed have consistently declined across all regions since peaking in 2022. Hiring activity now appears to have returned to 2020 levels.

Current demand for software engineers

Tech companies have over 25,000 open engineering roles, with the majority in entry to mid-level and senior positions. The demand for all job levels remains robust, still maintaining high levels since the peak earlier in the year.

Cloud & Tech Infrastructure and B2B SaaS sectors are leading in hiring increases with +796 and +494 roles, respectively, while Consumer Social and Creator Economy sectors face significant declines.

In terms of relative performance, expertise in AWS and Python is currently the most sought-after in new job postings. The overall increase across categories is attributed to a broader keyword scanning.

The bottom line? The job market for software engineers in 2024 is a mixed bag. It's competitive, it's evolving, and it's definitely being shaped by AI. But there are still opportunities out there if you've got the right skills and you're willing to adapt.

P.S. We provide monthly State of Hiring updates in our market report.