[martchat]

I think the IT job market is getting really dead as a great source of income. There were signs earlier of market saturation, but COVID somehow "covered" them to a certain degree. Of course there are multiple reasons for it, differing in every region:

Globally: IT development is in general moving away from outsourcing building custom solutions. You either build it in-house or subscribe to a ready SAAS product from 1000s available (many will go bust now - pick the winner in category). India is producing millions of offshore IT specialists every year. All above means that it really doesn't make sense to hire as many IT jobs as before. This impacts US and EU for all jobs that can be done remotely (COVID-> process was accelerated).The jobs that are safer from cheap outsourcing are the ones where you need to interact fluently with Product Owner (UX/UI, frontend) or are requiring local knowledge, so are specific for the region (SAP consultant discussing accounting process with end-user).

Additionally other reasons by region: US: rates raising, no cash for startups. EU: manufacturing sector in Germany collapsed due to losing cheap energy source (Russia). That translates into EU-wide slump in projects from that sector. New projects were put on-hold. 20% inflation has killed real wages growth and affected other sectors. Good sectors: finance is doing well. AI is fueling some startups (and killing customer service jobs in the process).

All in all, this new world will be interesting. Will the remote offshore jobs be affected by AI way more than local "human-facing" ones? Are we offshoring everything from production (China) to IT services (India)? What will be left in EU/US to do? :)

[Etheryte]

I don't think this is a convincing argument. Bro management has been saying stuff like this for decades, you can just outsource everything to a cheap country, external partner, or etc. Needless to say we all know how this operation ends every time.