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Although job openings climbed 8% during the past month, hiring and turnover are both on a steep downward trend year over year – down 21% from May of last year.
This trend may signal that companies are taking longer to hire candidates, possibly due to more stringent hiring processes or challenges finding suitable candidates, according to the May edition of the BambooHR Workforce Insights report, which analyzed more than 4.5 million employee data points. The study evaluates hiring trends, review activity, and paid time off (PTO) requests and approvals.
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