2023 Hiring Outlook

In the wake of a global pandemic, hiring outlook for 2023 is unclear. The effects of COVID-19 have had an adverse effect on the labor market, leading many to wonder if hiring will remain steady or decline significantly in 2023.

Analysts suggest that hiring trends may depend largely on the duration and severity of the recession. Should the economic downturn be brief and mild, hiring rates may not take too much of a hit and employers could still look to fill positions. If, however, recessionary forces continue for longer than expected and deepen further, hiring activity could slow down as companies scale back operations or delay hiring until conditions improve.

That being said, there are pockets of optimism surrounding hiring trends in 2023. Many experts believe that hiring will remain steady in certain industries such as tech, healthcare, and education due to continued investment in these sectors. Furthermore, an increasing number of organizations are shifting towards remote work models which could provide more hiring opportunities for a larger array of professionals.

Business is Good and Hiring Rates to Increase Despite Economic Outlook According to the EAA 2023 National Business Trends Survey that was conducted recently.

While the current economic outlook may have business leaders proceeding with caution, according to the 2023 National Business Trends Survey from the Employer Associations of America (EAA), business is looking up.

Despite the cautious economic outlooks, executives still anticipate high hiring rates. While 34 percent of executives surveyed plan to maintain 2022 staffing levels in 2023, 61 percent of respondents said they plan to hire permanent staff in 2023. When asked the primary reasons for their hiring plans, 93 percent of respondents said they will be replacing staff due to voluntary turnover, and 71 percent will be hiring due to newly created jobs.

“The economy may be down, but business is good. And because business is good, we are seeing an increase in hiring. Those are all positives that we should be acknowledging as business leaders,” said EAA Board of Directors Chair Kevin Robins and CEO of MidAtlantic Employers’ Association (MEA). “We still have many challenges and uncertainties, but we are seeing business improvements worth noting.”

While the current economic outlook may have business leaders proceeding with caution, according to the 2023 National Business Trends Survey from the Employer Associations of America (EAA), business is looking up with 59 percent of respondents expecting some type of increase in sales/revenue for 2023 (11% expect a significant increase and 48% expect a slight increase).

“The economy may be down, but business is good. And because business is good, we are seeing an increase in hiring. Those are all positives that we should be acknowledging as business leaders,” said EAA Board of Directors Chair Kevin Robins and CEO of MidAtlantic Employers’ Association (MEA). “We still have many challenges and uncertainties, but we are seeing business improvements worth noting.”

Overall, it is too early to determine the hiring outlook for 2023 with any certainty. The coming year may present surprises that no one can predict at this point, but one thing remains clear: hiring trends will depend on how well the economy recovers from the pandemic-induced recession. As such, staying abreast of economic developments and adjusting hiring strategies accordingly should be top priority for employers moving forward.