Are tech firms really firing their IT workers? No.

The unemployment rate in the technology job market in the US is about half that of other fields — just 1.5% — so the onslaught of recent reports about major “tech worker” layoffs can be confounding.For example, current data from online tracker company Layoff.fyi shows that 465 tech companies have fired a total of 126,057 employees in 2023 alone. And, according to layoff tracker TrueUp, so far this year, 608 tech companies have announced layoffs, affec