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Recession-Fearing Bosses Quietly Abandon Open Jobs

  • Growth in job postings has slowed of late, Indeed data show
  • ‘We simply might not need some of those jobs,’ HR expert says
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Edward Jones' Mahajan Sees US Downturn by End of Year

Companies that have struggled to fill job openings in the US for long stretches are starting to ask a pressing question: Do we really need those roles?

With interest rates soaring, stocks tanking and fears of a recession mounting, employers are axing jobs or dialing back their once-breakneck hiring plans. Inc. and Walmart Inc., America’s two biggest private employers, have said they’re thinning out their hourly workforces through attrition. Jobless claims, while still low, have risen slightly, based on a four-week moving average that smooths out weekly volatility.