When you’re looking at the job market, there are a few key trends that should stand out. These include the cooling of hiring, the stabilization of remote work, and the decline in jobs requiring an in-person presence. These trends will be important to monitor in 2025 and beyond.
As of late, hiring rates are still below pre-pandemic levels across most industries. However, the rate of hires is not falling as rapidly as it did in early-2021 (due to pandemic distortions). This suggests that hiring may begin to pick up again in coming months if the economy remains resilient and consumer demand holds steady.
The share of jobs requiring in-person staff has been most affected by the slowdown, with postings falling from their 2022 peak. This could suggest that sectors such as health care & social assistance, government, and leisure & hospitality are beginning to run out of steam.
The pace of hiring is also expected to slow if interest in US job postings from abroad begins to level off after its post-pandemic spike. The US labor market is heavily dependent on foreign workers, and a prolonged decline in interest from overseas could have an impact on hiring and economic growth.