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The 2023 Job Seeker Survey Report presents an analysis of the perceptions and preferences of active and passive candidates across all major industries in the U.S. produced by Trendicators™, the research division of Engage2Excel Group. This report is based on survey responses from 1,500 job seekers in March 2023. The report reveals insights on key topics to enhance your organization’s talent acquisition and retention strategies and optimize success.

The jobs market remains resilient even as the U.S. economy slowed through recession worries, interest rate hikes, tech and large company layoffs, and banking sector instability. More workers are entering the labor force and the participation rate for workers aged 25 to 54 is the highest since March 2008. Unemployment remains low, even though the pace of hiring is gradually cooling. Workers can still find jobs and job losses dropped in April.

As Q1 closes out, the Labor Market is showing signs of cooling, with hiring slowing and the smallest monthly employment increase in more than two years. Worker availability improved slightly; however, the market is still tight and finding workers with desired skills and experience remains challenging. Average hourly earnings moderate to 4.2% in March from 4.6% in February without an uptick in the unemployment rate, reflecting a strong but cooling market.

Early attrition has become a problem that many organizations struggle to address. Record low unemployment, changes in work attitudes and expectations, and the high cost of replacing people who quit have made retention strategy a high priority for HR leaders. Our latest eBook, Improving Retention Rates for New Hires, offers research on early attrition trends, causes and impacts—along with eight steps your organization can take to build an early retention program.