As the labor market cools, hiring managers can expect better access to talent than in 2022. The Indeed Job Posting Index shows a 10% reduction from the previous year, while remaining above pre-pandemic levels, offering hope for employers. However, with significant job growth concentrated in healthcare and hospitality, potential industry-specific hiring challenges loom. Additionally, an aging workforce nearing retirement poses a risk, emphasizing the importance of adapting hiring strategies while managing the decline in remote job postings.
The labor force's accelerating aging will also be a factor in hiring. From 2024 to 2029 is considered 'peak 65' - the years where the largest number of Americans are turning 65.
If you're hiring, it's probably good news for you because you have more candidates to choose from than you did in 2022. If you're looking for a job, it may take longer.
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