A Stable Economy, But a Job Market Out of Sync
As we officially enter Q3, the labor market is steady, but it isn’t behaving the way we’d typically expect.
According to the latest report from the Bureau of Labor Statistics (BLS), the U.S. economy added 147,000 jobs in June, and the unemployment rate held at 4.1%. Private-sector data from ADP paints a more cautious picture, showing a loss of 33,000 jobs, which is the first decline they’ve reported in over two years.
Still, the Fed continues to point toward a soft landing. Inflation is cooling, growth is holding steady, and there are no immediate plans to cut interest rates. From a macroeconomic perspective, conditions are stable.
But the hiring market is telling a more complicated story.
High Openings, Low Hires: A Market in Transition
Job openings are at a six-month high, yet the actual hiring rate remains low—around 3.4%, which is well below historical norms. Layoffs are still minimal, which confirms what we’re seeing on the ground: this isn’t a downturn. It’s a pause.
Businesses are keeping their teams intact. They’re posting jobs and planning for growth. But many are holding back on final decisions. What we’re seeing is a market where the intent to hire is clear, but the follow-through is delayed.
This holding pattern reflects the broader shifts underway. Across industries, hiring leaders are reassessing how roles function in an AI-integrated, hybrid, and increasingly automated workplace. Global trade developments and new tariffs have also added uncertainty, especially in sectors dependent on complex supply chains. And while revenue and consumer activity remain steady, the instinct to wait and watch is shaping behavior across the board.
This isn’t hesitation based on fear. It’s a deliberate pause—a moment of recalibration before the next phase of movement begins.
Candidates Are Still Active—But They’re Being Selective
Skilled talent is still on the market, especially in mid-level and specialist roles. But candidates aren’t making moves as quickly as they were even a year ago. They’re taking more time, asking better questions, and being more intentional about what they want next.
We’re also seeing fewer true entry-level roles. As companies streamline teams and introduce new tools, early-career job paths—particularly in administrative, customer service, and junior finance roles—are becoming harder to find. That shift is creating challenges for recent graduates and reducing the future internal pipeline for employers.
At the same time, experienced professionals are open to new opportunities—but they’re paying closer attention to culture, growth potential, and whether the hiring process itself reflects a well-run organization. Teams that can move with clarity and confidence are standing out. The rest are getting passed over.
What’s Moving and What’s Not: Industry Snapshot
- Administrative & Office Support
There’s still strong demand for experienced executive assistants, project coordinators, and office managers. However, entry-level roles continue to decline, and ghost postings are adding to candidate fatigue. Teams that are clear and responsive are winning attention. - Accounting & Finance
Unemployment remains low, and competition is high for accountants, analysts, and compliance professionals. Searches are dragging out in firms that haven’t aligned internally or clarified their process. - Engineering
We continue to see steady demand in energy, infrastructure, chemical, and process sectors. Succession gaps are growing as senior engineers retire, and the pace of replacement isn’t keeping up. - Construction & Manufacturing
Hiring is strong in areas tied to reshoring, EVs, and AI infrastructure builds. Labor availability remains the primary challenge—not lack of work. Wage pressure is a factor, but long-term demand continues to support new hiring. - Sales
The digital sales shift is well underway. Candidates who understand data tools, CRMs, and modern sales strategies are in demand. Traditional outbound roles are being folded into broader customer success and revenue teams. - Legal
Firms are still hiring for compliance and legal operations, but are taking a more thoughtful, long-term approach. Fit and internal alignment are being prioritized over quick timelines. - Wealth Management
Hiring remains consistent, particularly for client-facing advisors who bring both regulatory fluency and strong communication skills. Growth is steady, but firms are being selective.
What This Market Means for Employers
This job market is proving something important: the traditional approach to hiring no longer works. The pace has changed. So have the expectations. And so has the talent.
Businesses can’t rely on outdated models, slow cycles, or generalist roles that ask too much from too few. The employers that are succeeding right now are the ones who are evolving—rethinking how they build teams, how they hire, and who they partner with to do it.
That’s why working with a recruitment partner is no longer a nice-to-have. In this kind of market, it’s the edge.
When companies partner with us, they get both sides of what they need:
- Access to the top talent on the market, so they can stop settling and start hiring candidates who are truly built to lead and grow the business
- Flexible contract solutions, so they can stay productive, launch projects, and move forward—without getting stuck in long-term decisions they’re not ready to make
- A strategic hiring process, tailored to the way today’s candidates actually move, think, and choose opportunities
That’s how our clients stay both agile and competitive. They stack their teams with the right mix of long-term hires and specialized support. They don’t wait for conditions to improve—they build forward with what’s available right now.
If you’re ready to shift your hiring mindset and take the next step with more confidence, we’re ready to help you do it.
Request candidates or contact our team to get started.