The labour market has been tight for a while, and signs indicate that employers are starting to pull back on their hiring plans. The trend is causing some economic uncertainty, but it could be just what the economy needs. Slower hiring can help prevent a talent shortage and keep salaries in check. Slower hiring can also help to reduce turnover, allowing employers to hire better talent and reduce costs associated with a fluctuating workforce. Slower hiring can also encourage more business investment, as employers will have more confidence in the market and can better plan their budgets. In addition, slowing down hiring can give employers the time they need to review candidates and make sure they are making the right hire for their organization.
Hiring is slowing — slowly. It might be just what the economy needs.
