1、Barclays Capital Inc.and/or one of its affiliates does and seeks to do business with companiescovered in its research reports.As a result,investors should be aware that the firm may have aconflict of interest that could affect the objectivity of this report.Investors should consider thisreport as on

2、ly a single factor in making their investment decision.(ii)This author is a member of the Fixed Income,Currencies and Commodities Researchdepartment and is not an equity or debt research analyst.(iv)This author is a registered US equity research analyst who is subject to US FINRA Rule 2241FOR ANALYS

3、T CERTIFICATION(S)PLEASE SEE PAGE 10.FOR IMPORTANT EQUITY RESEARCH DISCLOSURES,PLEASE SEE PAGE 10.FOR IMPORTANT FIXED INCOME RESEARCH DISCLOSURES,PLEASE SEE PAGE 17.Web ToolsRefresh of Mind Share via JobPostings Suggests AI Worries MightBe OverdoneOverall job postings citing web tools skills have im

4、proved toflattish over the last 12 months,even as AI-disintermediationworries rise.WordPress still just over half of mind share,butdown nearly 5pts y/y,while SHOP up 5pts.Observing flattishshare at WIX,declines at GDDY.The Key Takeaway:This is our third annual installment of examining web tools job

5、postings toassess the overall demand environment and evolving hiring intentions in the space.Total jobpostings have continued to soften,now down-36%from the March 2022 peak(12m).Web toolspostings have seen even greater pressure and are down 64%over the same period.Thatsaid,postings have not declined

6、 meaningfully further since we updated last summer(link).Asdetailed in Figure 1below,we see that there is a clear troughing/floor emerging in terms of webtools roles,which are trending roughly flattish y/y,with a similar bottoming pattern beginningto emerge in the BLS total private job openings.We v