Recruiting Market Report - February 2024

2/26/2024

RECRUITING MARKET REPORT - February 2024

Find out what we are hearing from candidates and clients and get our predictions for the future of the hiring market in the February 2024 edition of The ASP Team Market Report:

Quinn Finnigan - Recruiting Services Leader

Joss Stokke - Recruiting Practice Leader

What are we hearing from candidates?
"What do you have?”- The trend of candidates being interested in hearing more about our open roles continues this month. People are answering calls and returning messages. Although unemployment remains at record lows, there seems to be a small loosening of the tight candidate market we’ve been experiencing. Of course, these candidates are looking to elevate their career in terms of compensation package, title, or flexibility. Yes, remote or hybrid work is still the number one request we hear!

What are we hearing from clients?
"I’m ready to roll!"- We’re been experiencing an uptick in clients looking to fill roles. In general, it seems this trend is continuing from last month as clients aren’t as hesitant to hire as they were last year. When they see a good candidate, they are moving to close the deal. Perhaps employers are feeling confident as the US economy remains surprisingly robust and beat fourth quarter 2023 growth expectations.

What am I feeling about the hiring market?
So far, so good. Consumers and businesses continue to spend, squashing expectations of a recession, and the US stock market continues to rally. In addition to economic growth, inflation has been cooling. Economists’ forecasts are looking better for 2024. In January, unemployment remained at 3.7% and 353,000 jobs were added, compared to an average monthly add in 2023 of 254,667. It seems like clients and candidates are more active. Perhaps both are feeling more confident about the economy.

ASP Hiring Statistics - 2024
26 - Days to Place (avg.)
$172,235 - Avg. Placed Controller Salary
22% - Percent of Diversity Hires
82% - Percent of time we get interviews for our clients