>people don't want to be seen looking for a job while employed
IMO this is the biggest factor causing the slowdown in tech hiring. Right now people just want to stay put wherever they are. In the past when someone jumps to another company, it opens a headcount where they were, which gets filled with someone who also jumped another company, which caused a headcount to be created there, ad infinitum causing a constant cacophony of job postings, like a "velocity" of jobs akin to velocity of money.
The combination of slack in the system (unemployed people being hired), low attrition, and some backfills not being done creates a giant dampener on the velocity.
IMO this is the biggest factor causing the slowdown in tech hiring. Right now people just want to stay put wherever they are. In the past when someone jumps to another company, it opens a headcount where they were, which gets filled with someone who also jumped another company, which caused a headcount to be created there, ad infinitum causing a constant cacophony of job postings, like a "velocity" of jobs akin to velocity of money.
The combination of slack in the system (unemployed people being hired), low attrition, and some backfills not being done creates a giant dampener on the velocity.