We’ve been closely following the B2B tech hiring market over the last twelve months. And with the Bureau Labor Statistics releasing the new Job Openings and Labor Turnover Summary (JOLTS) last week, I thought now was a good time to take stock.
Compared to the trough (mid 2020) things are massively improved. But compared to the peak (late 2019) we aren’t yet fully recovered. Here are four things I’m seeing:
1) Layoffs are well behind us
Back in May 2020, I looked at 200 funded B2B SaaS companies and found:
- Hiring freezes roared into April and turned to layoffs by May
- By the middle of Q2 2020, 40%+ of companies had laid off SDRs, AEs, and AMs
- Job losses peaked in late Q3