PM jobs hit 4-year high, up 75% since 2023, as engineering demand stalls
SumitGup · x · 2026-11-11
Lenny Rachitsky's fifth semiannual tech job market report (late 2026) delivers surprises:
- PMs are winning in the AI era: open PM roles hit 7,303, a near four-year high, up 75% from the March 2023 low of 4,171, growing faster than any other core product role—the opposite of the "AI replaces PMs" narrative.
- Engineering demand has stalled; design openings at a record low.
- Every role now requires AI skills.
- Tech jobs are concentrating in the Bay Area; remote roles at a record low.
- The market is growing fast, but mostly outside of software.
Based on TrueUp (9,000+ tech companies) and Live Data Technologies (124M professionals) datasets.
Related event: Lenny's 2026 Tech Jobs Report: PM Hiring Surges While Engineering Stalls(5 posts)→
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