Bay Area Job Market Withstands Recent Tech Layoffs Better Than Dot-Com Bust
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Two years of major tech layoffs have weighed on the Bay Area job market, but the impact has been less severe due to hiring in emerging tech sectors like AI.
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Over 36,000 tech jobs have been cut in the Bay Area recently, far less than the 193,200 jobs lost during the dot-com bust.
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Layoffs result from overhiring during the pandemic and companies seeking efficiency, not business failures.
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Despite layoffs, demand remains for specialized tech talent, especially in growing areas like AI.
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Job losses suggest the tech industry is reinventing itself, as it has after past downturns, ahead of the next potential boom.