With talks of a recession imminent, many employers are reviewing hiring. Nobody can predict the future but something else can provide context: Data. Read on for some of HireVue’s insights.
Who is HireVue?
First, you’re probably wondering who HireVue is and why their data matters.
To start, HireVue is a company that connects businesses to candidates by providing video interviewing software, conversational AI, and pre-hire assessments.
Now, about their outlook. There are a lot of really smart people who say a recession is imminent and there are other really smart people who don’t think that’s the case.
CEO of HireVue Anthony Reynolds believes “the economy will continue to be strong, if a little wonky.” Below are the data points Reynolds reviewed to come to this conclusion.
Hiring Statistics: Pros
- There are 2 job openings for every 1 person unemployed
- These numbers are global and come from HireVue’s 800+ customers
- HireVue customers sent 17 million chat and text messages
- Up 1.4 million from last quarter
- Government hiring has tripled since 2020
- More specifically, public sector hiring increased 17% since last quarter
- Skills assessments are up 700,000 from last quarter
- Compared to only 50,000 last quarter
Hiring Statistics: Cons
- Interview volume is down slightly from 2.1 to 1.8 million
- Hourly positions still have a worker shortage
Conclusion
In summary, this blog post could have a completely different tone in Q3, but only time will tell. The past two years have been difficult for all small businesses and yet you’ve remained resilient. What’s a little more to keep us on our toes?
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