The Rise and Fall of Software Developer Jobs

The demand for software developers has declined sharply from the peak seen in 2021 and 2022, according to independent analysis by job portal Indeed and research firm ADP, reflecting a broader slowdown in high-paying white-collar job opportunities across tech, marketing, and finance sectors. Nick Bunker, an economist at Indeed, identified these positions as the labor market's current weak point. The shift follows a period of intense recruitment during the pandemic, when tech workers could command premium salaries. ADP Research adds: Employment of software developers in fact has been slowing since 2020, the year pandemic lockdowns first hit the United States. In January 2024, the U.S. employed fewer software developers than it did six years ago. [...] The ADP Research Institute tracked employees at 6,500 companies, including more than 75,000 software developers and engineers in 10 industries, between January 2018 and January 2024. Using this data, we built an index to track the employment of software developers beginning in January 2018. Developer employment grew from January 2018 to November 2019, then began to fall. The index dropped sharply in January 2022 (down 4.6 percentage points), May 2022 (down 3.5 percentage points), and January 2023 (down 3.4 percentage points). Despite intermediate increases in August 2021 and October 2022, the developer employment index has been falling since 2020.

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