Jump In Tech Layoffs Bad For People, But Good For Technology Select Sector Spdr Etf (xlk)

The technology sector has been hit hard by the bear market of 2022, but has since seen a resurgence in the past few months. The Technology Select Sector SPDR Fund ETF (NYSEARCA:XLK) is representative of the technology sector, and is expected to gain momentum in the coming periods. Layoffs have been a major issue in the tech sector, with over 900,000 jobs expected to be lost by the end of the year. Many of these layoffs involve recent college graduates, who worked hard to attain their positions. Despite the layoffs, the tech sector is expected to see positive momentum in the future.