Despite concerns the economy may be stalling, half of all companies still plan to add staff this year.
Global outplacement and executive coaching firm Challenger, Gray & Christmas says of the 150 companies it surveyed, 46% said they’ve been hiring throughout last year and intend to hire more workers in 2020.Another 5% of them said they expect to up their headcount “significantly.”
Tempering the news is that far fewer companies feel the economy is improving. In 2018, 65% of the companies in the Challenger survey said they felt the economy had improved. When that question was asked last month, only 38% said the economy had improved. Another 35% felt there had been no change in 2019.
“The fact that half of companies are hiring this year is a positive for job seekers and indicates companies are continuing to enjoy a solid economy. That said, we are seeing some indicators, such as slow-growing wages, an increase in job cuts, and an exodus of CEOs, that may portend rough waters ahead,” said Andrew Challenger, company VP.
According to Challenger, Gray & Christmas, 1,640 CEOs left their posts last year, the most since CEO tracking began in 2002. The firm also reported that employers at US-based companies last year announced plans to cut 592,556 jobs, a 10% increase over the cuts announced in 2018.