CFOs see "pivot shift" ahead as hiring slows
The surge in hiring we've seen over the past year may slow a bit in the coming quarter, one survey indicates.
Why it matters: A slowdown in the overheated labor market could help the Federal Reserve engineer that soft landing we keep hearing about.
What's happening: In a survey released by Deloitte this morning, CFOs predict a 2.6% increase in hiring over the next year — a big slowdown from what they were saying three months ago when hiring growth was at 5.3%.
- "A bit of a pivot shift," said Steve Gallucci, a managing partner at Deloitte, said of the survey of 112 CFOs.
- But that's still a higher number than the same time frame in 2019.
Big picture: Deloitte's been surveying CFOs for 13 years, believing that these C-suite execs have a good sense of what's going on in their company, and the economy.
- In the Q3 survey, CFOs were more concerned about inflation than the possibility of a recession.