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Resilient job market forecast for first half of 2024, Robert Half reports

December 07, 2023

The job market looks resilient heading into 2024, according to a study by Robert Half International Inc. (NYSE: RHI).

Its survey of hiring mangers found 57% plan to add new, permanent positions in the first half of 2024. That’s down only slightly from 58% in a similar survey last year. In addition, 39% anticipate hiring in the first half of 2024 for vacated positions, and 67% expect to hire contract workers.

Company growth was the top reason for increased hiring, cited by 66% of respondents.

“Job openings continue to exceed the number of professionals looking for work,” Dawn Fay, operational president of Robert Half, said in a press release. “With hiring expected to increase early in the year, employers need to have a strategic hiring plan in order to land the talent they need.”

The survey also found that 90% of hiring managers reported difficulty finding skilled professionals. And 58% said it takes longer to hire for open roles compared to one year ago.

Top factors contributing to hiring challenges include:

  • Finding candidates who align with the company culture, 49%
  • Meeting candidates’ salary expectations, 48%
  • Lack of candidates applying for open roles, 42%

Retaining talent was also a concern, cited by 91% of respondents.

Robert Half’s survey included more than 1,850 managers with responsibility for hiring personnel in finance/accounting, technology, marketing, legal, administrative, and customer support and human resources. Hiring manager were at companies that had 20 or more employees in the US. The survey took place from Nov. 1 to Nov. 20.