Hiring Slowdown: 33% of Managers Cut Plans Amid Economic Constraints

12%

The US job market showed signs of stabilization this summer, with the Indeed Job Postings Index remaining 12% above pre-pandemic levels. While healthcare roles are in high demand, tech job postings lag 30% behind 2020 figures. About one-third of sectors analyzed are below their pre-pandemic baselines, highlighting uneven opportunities for job seekers, especially in remote work fields.

90%

A recent survey by Generation found that only 15% of workers over 45 regularly use AI tools, yet those who do report increased job satisfaction and productivity. Notably, 90% of U.S. hiring managers prefer candidates under 35 for AI roles, with only 32% considering those over 60. Despite over 90% of employers offering some AI training, only half provide formal programs, leaving many to learn independently. Among non-AI users, 24% in the U.S. and 36% in Europe expressed interest in learning how to use AI.

33%

Amidst a cooling economy, a Harris Poll survey for Express Employment Professionals found that 33% of hiring managers are reducing hiring plans due to budget constraints. To cope, 68% plan to train existing staff for new roles. U.S. hiring reached its lowest level since November 2016, and many employees report taking on multiple job responsibilities without increased pay, raising concerns about burnout and job satisfaction.

781,000

The U.S. labor market experienced a major shift, with over 30 million workers resigning in 2023, following a record 50 million in 2022. While hiring rates have surpassed quit rates, the leisure and hospitality industry faces the highest turnover, losing 781,000 workers in January 2024 yet hiring 1.05 million. Despite ongoing labor shortages, particularly in healthcare and professional services, many industries are struggling to fill vacancies as the labor force participation rate remains below pre-pandemic levels .

40,000

7-Eleven has enhanced its recruitment process by implementing the AI assistant RITA, which automates 95% of hiring tasks. This innovation has reduced the average hiring time from 10 days to just 3 days per candidate and saved the company 40,000 labor hours weekly. By streamlining both recruitment and administrative tasks, 7-Eleven improves efficiency, prevents the loss of quality candidates to competitors, and effectively manages paperwork and training processes. This strategic shift positions the company to attract top talent more effectively.