My gut check here is this is basically what already happened in tech. I'm actually getting a lot of recruiting messages now but it really slowed down a few months ago. We've been hearing that the rest of the economy is still quite strong outside the tech bubble and even growing, with good wage growth generally. It's not too surprising that the rate increases are catching up to the rest of the economy. I suspect the fed will keep rates high until next year then bring things back a bit once inflation indicators have gone down. They're trying to ride the line here to keep inflation under control without destroying the economy.