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Hiring Hits Five-Year Low

There was a significant decrease in turnover and hiring globally—with hiring hitting a five-year low—at the end of 2024, according to research from BambooHR. Hiring decreased in all industries, with global hiring dropping to 1.7% and U.S. hiring dropping to 1.9% in December 2024.

At the same time, reviews continued to spike, with an overall increase of 14% in reviews in the U.S. since November. This indicates organizations are dedicated to assessing an enhancing performance as they prepare for the new year.  

Globally, PTO requests decreased in December, but there was a slight uptick in the United States. For Americans, 38% of employees requested PTO and 48% of those requests were approved.

This represents a 7% increase in requests and a 3% rise in approval compared to November. On the flip side, 43% of employees globally requested time off in December, but only 47% of those requests were approved. Compared to November, the percentage of PTO requests globally dropped by 4%, and approval decreased by 1%. 

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