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There's a high probability that if the unemployment rate surges, then the Federal Reserve pivots to FULL Q.E./turns on the money printer in expectation of a Recession, and to prevent an actual Economic Depression.
This X post says that "mega layoffs" will start in 18 months.
At a recent dinner I met a very senior engineer at one of the Big Four tech cos.
His team develops tooling for a 0-engineer future.
They're not allowed to tell anyone internally what they're working on to avoid mass panic. He figures mega layoffs start in 18 months.
https://x.com/corbtt/status/1927821116057309685Unemployment will rise in IT jobs because many people think that they can land a job by finishing a BootCamp and they don't analyse that even Junior designers and developers need a solid portfolio to get a job. A while ago you could land a job without a solid portfolio if you had good connections but today there is no need of junior developers or designers. I'm into UI/UX and for what I needed a junior designer, now Vercel AI does that job easily and cheaply for me, it also provides way better results than 90% of Junior Designers. Seniors and higher-ups will stay in the job market but Juniors will find it almost impossible to land a job unless they train so much to become near to senior level.
At the moment I see that lots of people, especially those who have no job, go live on tiktok and have battle with each other. They earn lots of money by receiving coins and donations, they earn more than I do with my job. So, I think that TikTok and similar platforms will be full of people in 18 months if that forecast is correct.