We’ve officially entered the back half of 2024. That marks two years since the tech hiring slowdown. What does that mean? People in certain segments (tech, recruiting, professional services) are struggling to find jobs. Yet, unemployment remains near all-time lows. 

TLDR? There is still a lot of noise in the market. For the past 18 months, companies have been hesitant to make any big decisions (M&A, hiring, or major changes in general) due to interest rates. Rates look like they are finally going to come down. But now the upcoming election is the latest reason to punt any decisions. 

We are in the process of crunching our Q2 Numbers. We’ll be sharing it over the next few weeks to give a snapshot of what we’re seeing. Until then? I’ve got a video from Ryan and Emily, diving into some of the things we’ve seen so far this year.

Check it out!

The Hirewell Update, Ep 15 "2024 Q1 + Q2 Job Market Insights - Trends Challenges, and Opportunities"

In their latest episode, Emily and Ryan review the Q1 and Q2 job market, highlighting layoffs in tech and retail closures like department stores and Amazon cutbacks. Economic uncertainty due to inflation and rising interest rates has led employers to struggle with higher compensation demands, sometimes pausing hiring. They discuss the shift from remote work to a return-to-office push, balancing employee preferences with corporate mandates. Employers’ increasing selectivity has slowed hiring and even caused freezes when ideal candidates aren’t found. They note a transition from the “Great Resignation” to the “Great Stay,” where stability is prioritized amidst economic uncertainty, tightening the job market. The gig economy is also on the rise, with more professionals opting for interim roles and project-based work. Emily and Ryan offer insights into today’s complex job market dynamics, addressing challenges and strategic considerations for both job seekers and employers in navigating these uncertain times.

Recruiting Reality, Ep 41 "Lady Whistledown & Hirewellian of the Week"
In this installment of Recruiting Reality, Liz and Shania delve into the world of Bridgerton and the Lady Whistledown Society Papers, drawing parallels to their own workplace dynamics. They introduce a fresh initiative on their team called “Hirewellian of the Week,” aimed at internally recognizing and appreciating team members.

—Matt Founder, CEO - Hirewell

COMING SOON

The 10 Minute Talent Rant, Episode 92 "Why AI Won’t Fix Hiring"

Another day, another AI tool that promises to change the world. But won’t.

It’s not a big leap to think we’re at the peak of the AI hype cycle. But in recruitment – a sector already trailing the technology curve – what if it actually makes things worse?

Who is going to train AI on a good interview process if there isn’t already a good interview process? What happens when an AI bot breaks down and no one knows how to fix it? And why would we think taking more human involvement out of an experience often lacking human touch will be a good thing?

James Hornick and Jeff Smith break down why we shouldn’t expect a recruiting cheat code in episode 92 of The 10 Minute Talent Rant, "Why AI Won’t Fix Hiring.”

Date and Time: Wednesday, July 17th at 11 am CT

Add to your calendar here.

View LIVE via:

LinkedIn Live (follow James Hornick for the notification)

Hirewell's YouTube, Facebook, or Twitter accounts.

Replays will be available via Hirewell Talent Insights.

THE RECAP

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