Comment by geodel
True, besides actual software engineering is small part of overall IT/computer related work. There are far more analysts, managers(project, program, IT, agile etc), QA, operations and so on. So engineers who employers think are capable of leveraging AI and do 20 s/w engineer worth of work with 5 people will remain in demand for time being.
Even without outright layoffs one can see how fast leverage of average IT engineer is disappearing. After 20 years of experience my value or feedback matters less than when I was 4 years into paid job. And it has far less to with AI so far.
Most custom work of past is just a library, component or framework to use. And those are mandated to be used as it much easier to hire/replace teams to work on those.
Now It may be always be true to have reusable components created but growth of IT industry kept people employed in ever greater numbers. However now it seems to be reaching limit. Leaving aside highly visible layoffs by US tech giants, growth is fading in countries like India with huge IT offshoring workforce. There are millions upon millions jobless fresh graduates waiting to get jobs with some IT degree.
"There are millions upon millions jobless fresh graduates waiting to get jobs with some IT degree".
Quality of those graduates is not always great. A talented and passionate SWE will always make a good living.