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Some Hot Job Markets Persist. But Where?

Despite the signs of a slowing economy and growing worker jitters, some surprising corners of the job market are accelerating

By | Jacob Zabkowicz |

His people were sending mixed messages to the CEO. On the one hand, his finance department reported a weak economy, along with ballooning budgets for fuel, labor, and supplies. On the other, his CHRO described a red-hot job market in which openings for essential positions lingered, and in which filling some roles took courting and attractive offers.

This is the scenario facing executives around the globe, with some jobs as hot as ever despite firms slowing down their hiring. In niches like professional services and hospitality, Bureau of Labor and Statistics figures show hiring rates at double to triple the national average. “It feels like we’re coming out of the craziness, but a lot of companies still have pockets where attrition is high,” says Lenka Burnett, vice president for global client services at Korn Ferry. If companies can’t fill jobs, she continues, they can’t hit growth targets and compete in the global marketplace. “Or even maintain the status quo,” she says.

To be sure, the hiring market is relaxing. “Employers are calling the shots again,” says Jacob Zabkowicz, general manager of global RPO at Korn Ferry. “They’re gaining back control.” But recruiters are still seeing heavy demand for roles typically hired in high volumes, such as hourly employees in retail and food service. Construction managers and trade workers like welders and machinists are also sought after, in part due to the resumption of construction projects that the pandemic had delayed. What else is staying hot in cool times?

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