Job market freeze finally starting to thaw as businesses plan hiring surge

The job market freeze that has gripped the economy is finally beginning to thaw, with a new report showing nearly two-thirds of businesses plan to increase hiring in the year ahead.

The report from ZipRecruiter shows 63% of businesses plan to hire more workers in the coming year. Employee turnover dropped dramatically from 177% in 2023, when many workers were leaving their jobs, to just 50% this year, suggesting many workers and employers were choosing stability over change during economic uncertainty.

But now, companies appear to be ready to grow again.

The report from ZipRecruiter found entry-level workers could see the biggest boost in opportunities. 32% of employers plan to hire more entry-level workers than any other type of role.

The survey of 1,500 businesses also found 61% plan to raise salaries in the next year because if the job market opens up, employee retention becomes more important.

"Our research suggests 'The Great Freeze' is giving way to 'The Great Thaw,' and the most prepared employers are already taking action. We're seeing businesses ramp up entry-level hiring, drop degree requirements, and incorporate skills assessments into their process," Nicole Bachaud said.

"The organizations that adapt to new technologies, prioritize skills, and invest in their workforce will gain a competitive edge in securing top talent as the market shifts," Bachaud said.

The top three skills employers want are collaboration, customer service and communication.

This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.