Research & Insights

We’re a little behind on posting last week’s data as our team was busy volunteering offsite. For the week of March 4th the measure is still at three job openings for every one engineer looking for work.

But, for the first time in over a month we saw the measure inching back towards four openings which is consistent with what our team predicted. Companies seemed to be running a bit behind this year in finalizing their budgets and hiring plans. We believe there will be a visible hiring push going into Q2 of 2024.

The real question is around when will interest rates come down and when will money get cheaper? In talking with our clients they are all sitting on major capital equipment projects that are on hold until they can justify the cost as it relates to expense. Economists all seem to agree though that interest rates will drop at some point in 2024.