There has been a much higher rate of year-end hirings this year than any year in my memory as an independent carer coach, and that goes back to 1997 – at least in view of my practice. This even includes the four years, 2021-2024, of record-setting job creation when, let’s not forget, the job market created more jobs – 17 million – than in any other four-year presidential term in history.
Year-end hirings are up – way up.
Yup. Year-end hirings are up – way up – by a factor of approximately 2x over expectations, from my vantage point. But in my small solo practice in northeastern New Jersey (Metro NYC), it would be too easy to fall prey to tunnel vision, with only a limited sample of clients to observe. However, where there’s smoke, there’s usually fire, and I this case, that was worth investigating, calling on my perspective as an observer of the national job market, as well as calling on the observations of colleagues elsewhere in Chicago and Denver.
Labor statistics vary, of course, by region and standard metropolitan statistical area (SMSA), and by the time you crunch the numbers and then take into account the myriad statistics and trends (most, subsurface) that make up a jobs report, you can either support or argue anything successfully. That’s why I asked my two associates two questions: (1) Are hirings up or down? (2) Why?
National open jobs and hirings rate down slightly, but not really
Carrie McRey, a Chicago-based career coach, offered this overview: “Despite the fact that the open jobs rate and hirings rates are down slightly, that’s common at year’s end, However,” she added, “because the rate of job creation has come down from stratospheric to just plain great, hiring at this time of year is better than I expected, in a relative sense.”
Tom Davis, an executive recruiter in Denver who specializes in the professional service sector, agrees and adds this: “Because the hiring process tended to move more slowly in 2024 (not lower in quantity, just more deliberately), things backed up and now there’s a race to use up budget money – or lose it,
You’re hired. Your start date is December 30.
I surmise that’s the reason my client (name withheld) received an offer letter four days ago with a start date of December 30. Who ever heard of that, especially when the year will begin, for many, with a prolonged weekend? That’s clearly a use-it-or-lose-it scenario.
Job candidates: Put on the push.
So, the message is clear, If you are in the process of being recruited and are still in the running, chances are the hiring manager either needs to spend what’s left of this year’s money or is preparing some new year/new budget salary lines. Either way, you should know. It’s there and someone is going to get it.