If hiring slows down ok. But every year a new group of people retire and a new group of peoole are supposed to be hired. Those in the entry level where are they supposed to get their money from? A lot of corporate earnings is based on profit from consumer spending but if you cut out a whole demographic with the entry level wouldn't that make the earnings spreadsheet worse in the long run? At least domestically...?
I think it’ll even out somewhere (hopefully). If there’s less spending because more unemployment, things should get cheaper/inflation come down, rates come down, etc. to stimulate more buying somehow.
If rates come down a company can potentially hire a few more from there.
That said, back in the 2000’s Engineering had the same problem the tech world is running into today: more senior positions and less entry level hiring. Today entry-level hiring is still tight. I think if Boeing still has entry level freeze that’d be nearly three years straight for that company.
Early Tech hiring definitely helped ease some of the Engineering world who didn’t have jobs because they funneled into an incredible market. I would hope there’s something to break into from Tech slowing down, but if not then I think this is one of those cases where we’ll have to settle into a steady state somewhere.
Hopefully someone or some group can use some A.I to break open a new booming field/industry. That’d be the most ideal.
Biggest positive for tech was that the hardware world opened up a hiring space for the software world, but the concern is has the software world failed to open up the next booming field? It’s honestly been a bunch of clones that went nowhere in many cases. If A.I was the end result that software produces, that will actually have a shrinking effect unless like mentioned it can open up something new.