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The question here: Where are those people going? Are they finding other jobs in their field? Are they sill unemployed? Moved to other jobs outside of tech?
My best guess is that they are leaving the country if they can. I doubt people used to these salaries are willing to work three jobs for 100 hours a week like blue collar people, and it’s going to be significantly easier for engineers and highly-proficient tech workers to find jobs internationally.
To be clear, these numbers are worldwide, not just in the US.
To India to get same job for 20% wage.
