I fear this analysis would fit very well in the realm of "Spurious Correlations": https://www.tylervigen.com/spurious-correlations. At time scales like two or three years, very few economic correlations mean anything.
I'm inclined to agree, but for some reason the theory that "developer jobs are scarce because interest rates" has been repeated often lately. I'm not sure why people find it so compelling. I live in a city dominated by non-tech Fortune 500s (i.e., not VC start-ups) who traditionally hire lots of devs but this year not so much.
