Why Hiring May Be on Hold Until the New Year

November is here, and with it, the hiring landscape has hit a temporary slowdown that many job seekers are feeling. If you’ve been submitting applications and waiting for responses with little success, you’re not alone. Companies across sectors are taking a pause as they assess potential changes in the economic landscape and prepare for the new fiscal year.

Typically, companies ramp up hiring in late Q3 and early Q4 as they make final preparations for the year ahead. But this year, many employers are adopting a “wait and see” approach, delaying hiring decisions until there’s more clarity. “Companies tend to increase their hiring rates during the late Q3, early Q4 periods to prepare for the new fiscal year,” says A.J. Mizes, CEO & Founder of The Human Reach. “But, this year is a little different. Many companies are holding off on hiring until after results are certified. A new presidential term holds the potential for remarkable policy change—specifically, economic policy.”

According to a recent survey, 45% of job seekers believe that broader economic shifts are impacting their careers, while 63% say employers have recently slowed the hiring process. The reason for this slowdown isn’t tied to any one event; rather, companies are adjusting to changing conditions and looking for stability before committing to long-term hiring.

The October job report provides some insight into this pause. Economists noted that the U.S. added just 12,000 new jobs for the month, down from September’s numbers, with natural disasters and labor strikes also contributing to the decrease. The unemployment rate remained steady at 4.1%, pointing to a relatively healthy economy overall, though the slower growth reflects cautious hiring.

As we move into the last quarter, companies are considering how upcoming economic policies may affect everything from taxation to international trade and regulatory compliance, all of which play significant roles in operational planning and growth. “The next administration may decide to keep policies from the previous term or reverse them entirely,” Mizes says. “Taxation, business policies, import and export regulations, and many other elements associated with how a company conducts business will be impacted. That’s why many companies are currently biding their time regarding hiring trends; they are simply waiting to see which way the economic wind blows. There’s certainly hiring happening right now, but we will see that shift majorly after the election.”

While some industries are in a holding pattern, others continue to hire. This pause isn’t a permanent one; many employers are expected to resume hiring in full force after the new year, as businesses finalize plans and budgets. For job seekers, this is a perfect opportunity to focus on readiness and preparation. Keep an eye on job boards, network actively, and make sure your resume and interview skills are polished. The lull in hiring could actually work to your advantage, giving you time to build connections, refine your job search materials, and stay updated on job trends.

This period of transition is the ideal moment to position yourself for success. Use the time wisely, and you’ll be well-prepared to jump into the hiring market once it picks up again. You don’t have to let the timing affect your goals—leverage this period to your advantage and be ready to seize new opportunities as they arise.