Most laid-off tech workers found new jobs within 3 months: Report

Yahoo Finance Live anchors Julie Hyman and Jared Blikre discuss reports that 79% of laid-off tech workers found a new job in the tech space within three months.

Video Transcript

JULIE HYMAN: Laid off tech workers are getting scooped up quickly. That's according to a new survey from ZipRecruiter, which showed that 79% of recently laid off tech workers were hired within three months of instigate-- initiating, I should say, their job search. So this compares, I think, to 83% of workers overall. So it's a little bit lower, but nonetheless, it still shows that even with anecdotally these layoffs happening, that people are still getting hired again.

JARED BLIKRE: Yeah, the tech sector, if you're a tech sector worker, good news. You're at the top of the food chain. And so it's not surprising that a lot of these workers would get their jobs back. Now, a lot of the hiring, the insanely aggressive hiring that happened last year in 2021, in the early part of this year, before we knew the extent of the inflation damage, a lot of that was just aggressive for the sake of being aggressive because companies had to grow, no matter what, and they had to grow employee headcount in order to satisfy shareholders.

That's what the venture capital community wanted. That's what the Street wanted. And so that's what happened. Now those weren't some of the first jobs to go, not surprisingly, but anecdotally, tech people are just fine. So if you're crying about tech people not being able to find work because they got laid off this year, probably going to happen real soon.

JULIE HYMAN: Yeah, you can dry your tears.

Yes.