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Things are picking up. For real this time. Maybe.
No one can predict the future, least of all recruiters. But Matt Massucci had 2 forward looking data points that we covered in our Data Insight show:
👉Hirewell’s “Committed Business” rose 38% in Q3
What’s committed business? Anything where companies put their money where their mouth is. Retained work, project hiring, embedded flat free engagements.
It’s important because this sort of work rarely evaporates. When hires have to happen in a set time frame or else the business suffers, getting someone dedicated to get it done is…smart.
As opposed to the hires you’re not actually sure you need to make and may want to cancel. <Insert contingent rant here>
👉Job openings rose 5.8% in August (per the U.S. Bureau Of Labor Statistics)
This is after sliding for most of the year. Granted, I’m not a huge fan of job postings as an economic indicator. But a trend reversal combined with what we saw in our own numbers is encouraging.
Either things are getting better. Or it’s a dead cat bounce. Hopefully I didn’t jinx it.
View the full episode of Hirewell Data Insights: Hiring Trends Q4 2023.
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The job market is improving. Maybe.