From the post-COVID hiring frenzy to mass layoffs and the AI boom — what 75 months of tech job data reveals about employment cycles.
The "Who is Hiring?" thread is one of tech's oldest hiring institutions. Every month since 2011, companies post open roles in a single thread — and the volume of those posts serves as a real-time pulse of tech hiring sentiment.
We analyzed 75 months from January 2020 through March 2026. What we found is a story of extraordinary amplitude: a hiring boom unlike anything in recent history, followed by one of the sharpest contractions on record.
2020: Shock, Then Recovery
The year began with healthy hiring — 584 postings in January 2020. Then COVID hit. April 2020 saw postings drop to 460 — a 29% single-month decline as companies froze hiring in uncertainty. But the recovery was faster than almost anyone expected. By August 2020, postings had rebounded to 646. The tech industry, uniquely suited to remote work, had adapted.
2021–2022: The Great Hiring Boom
What followed was extraordinary. Flush with cash, benefiting from digital acceleration, and competing for a finite pool of engineers, tech companies hired at a pace the industry had never seen.
Tech job postings climbed steadily throughout 2021. The average monthly posting count in 2021 was approximately 866. June 2021 hit 977 postings — the all-time peak in our dataset, driven by the post-vaccine reopening euphoria and aggressive VC-fueled expansion. The average for 2022 was 634 postings/month.
This boom was driven by a confluence of forces: zero-interest-rate capital enabling aggressive growth, pandemic-era digital transformation creating demand, and intense competition for talent pushing salaries (and visibility) to record highs.
2023: The Reckoning
The correction was swift and severe. As interest rates rose, growth-at-all-costs evaporated. The layoffs began in late 2022 and accelerated through 2023:
- Meta: 21,000 jobs cut
- Amazon: 27,000 jobs cut
- Google: 12,000 jobs cut
- Microsoft: 10,000 jobs cut
The 2023 contraction of 42% year-over-year is the single largest annual decline in our dataset. Companies that had been posting 10+ roles per month went quiet. Hiring freezes became the default.
2024–2025: The AI Bifurcation
The recovery that followed was uneven — and that unevenness tells a story about where the industry is heading.
Total postings in 2024–2025 remained well below 2021–2022 levels. But within those postings, the composition shifted dramatically. AI/ML roles, LLM engineering, and AI product positions surged as a share of listings. Companies were hiring again — but for a narrower, more specialized skillset.
This "AI bifurcation" produced a market where demand for AI/ML engineers remained strong, generalist software roles stayed suppressed, and senior engineers commanded premiums while mid-level roles remained scarce.
March 2026: Where We Are
As of March 2026, tech job postings stand at 282/month — roughly half of the 2021 peak. The market has stabilized but has not recovered to boom-era levels.
The data suggests we are in a period of structural recalibration: companies that over-hired in 2021–2022 are still rightsizing, while AI-native companies and well-funded startups continue to recruit actively.
The next inflection point may come from AI's impact on developer productivity itself — if AI tools meaningfully reduce the engineering headcount needed to ship products, the equilibrium we're measuring could shift again, in ways that 75 months of historical data cannot yet predict.
Key Takeaways
- Peak: June 2021 — 977 job postings in a single month
- Sharpest decline: 2022→2023, a 42% drop in average monthly postings
- Current level: ~282/month (March 2026), roughly 50% below peak
- AI impact: Qualitative shift in what roles are posted, even as totals remain subdued
- The tech jobs hiring thread remains a leading indicator — worth watching monthly
Data sourced from monthly tech job "Who is Hiring?" threads · Jan 2020 – Mar 2026 · 75 months analyzed.