Tech workers staying put as 'Great Resignation' slows and layoffs ease

Tech workers are staying in their jobs despite concerns about employers' future outlook, with 30,000 fewer tech workers quitting in August vs July.

The "Great Resignation" trend of high quit rates seems to have slowed, with the quits rate in August returning to pre-pandemic levels.

Layoffs in tech have also slowed, with the sector announcing the fewest monthly layoffs since June 2020.

Workers want more hours and income amid high inflation, so are less inclined to switch jobs currently.

Job openings increased in August, but hiring has slowed significantly, signaling the labor market is cooling.