November job growth slowed but still expected to be strong despite layoffs, hiring freezes
While the pace of those announcements has picked up as the year end approaches, economists say they are not yet affecting the jobs data in a significant way.
Tom Gimbel, founder of recruiting firm LaSalle Networks, said his annual survey of 300 hiring managers showed 84% expect to add workers in 2023, but not as many. "Consumer package goods, traditional manufacturing, professional services firms are continuing to hire. IT continues to be the leader, and we see accounting and finance is above 2021 numbers. Sales hiring increased a lot as well," he said.
"There should be directional slowing, but we're expecting a pretty good employment number," he said. "What I will look for is signs that the interest rate sensitive sectors are starting to have some job losses."
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