Firehose

Here is a summary of the article in 3 plain sentences: The decline in tech jobs in the US and other countries cannot be attributed to AI, but rather to rising interest rates, which led to a hiring freeze and subsequent layoffs, particularly among junior workers. The recovery in tech hiring is characterized by a shift towards senior roles with AI skills, with postings for these roles increasing by 25% since 2025, while junior job postings have not recovered. The cost of the tech jobs bust is landing on the youngest workers, with unemployment rates among urban 15-to-29-year-olds in India and China reaching 18.9% and 14.5%, respectively, highlighting a generational imbalance in the labor market. AI summary