Job market still hot despite Federal Reserve's inflation efforts - Silicon Valley Business Journal

designed to weaken the job market, good workers were still hard to find. About 90% of hiring managers said it was still challenging finding skilled professionals and employers said it could take up to 11 weeks on average to hire for an open position, up from seven weeks in 2021.

Because of those challenges, about 72% of managers plan to hire more contract professionals in the first half of 2023, up from just 45% six months ago, a data point that has been echoed in other data — and showing that many workers are picking up contract work on the side and some companies are shifting to contract workers in order to cut costs or buy time until a permanent worker can be hired.

"Pressure to hire for open positions quickly can lead to hasty decisions — and mistakes. On the flip side, a drawn-out interview process or overemphasis on one or two priorities are barriers to bringing on top talent," McDonald said."Employers should aim to get a well-rounded view of candidates while remaining efficient and consistent.

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