Tally another one up in the “2025 is a rough year for jobs” column.
Fewer CHROs plan to increase hiring than did so a year ago, a survey by the Conference Board finds, and more anticipate that their companies will pull back on hiring.
Twice a year, the Conference Board surveys US CHROs at organizations like Fortune 500 companies, healthcare employers, and midsized companies. This quarter, 36% of CHROs said they plan on increasing hiring within the next six months, roughly the same percentage as Q4 of 2024 (37%) but down from 41% in Q2 of 2024.
Similarly, 20% of CHROs said they would decrease hiring over the next six months, around the same percentage as Q4 of 2024 (19%), but up from 11% this time last year.
It’s yet another data point suggesting that the jobs picture is weakening. Though unemployment is low, at 4.2%, fewer jobs are being added. The US gained just 19,000 jobs in May, 14,000 in June, and 73,000 in July. Were it not for the healthcare and social services sectors, Bloomberg pointed out, that jobs growth would have been negative. It now takes job seekers an average of 24 weeks to land a role, a month longer than it did a year ago.
Consumers are also feeling qualms: Around 60% told University of Michigan researchers they believed unemployment would rise in the next 12 months, up from 32% in 2022.
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