Tech workers hit with layoffs and decreasing salaries

According to data from Layoffs.fyi, more than 20,000 employees were fired from their jobs in the tech sector in April. In addition, according to data from Women Impact Tech, salaries for workers in tech dropped over 12% in 2023.
Women Impact Tech CEO Paula Bratcher Ratliff joins Wealth! to break down the situation for tech workers, highlighting heightened volatility in tech's segment of the US labor market.
On a more positive note, Ratliff claims: "We're seeing about 20% increase over prior years trajectory in hiring for tech workers, and a lot of that has been powered by AI. There's always been this concern, 'will AI cause us to lose more tech workers?' and we're seeing the opposite effect. AI, and other innovations are driving more tech need for organizations and we're seeing improved hiring, and improved hiring in the human capital space for tech because of AI and the impacts of resumes and resume writing."

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