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The double threat of both rising costs and deteriorating demand lingers even with the current tariffs as structured. Executives are relatively more optimistic on other policy changes, however, and many are hopeful those changes will spur growth.
Following a period of chaotic market activity last week, the U.S. hit pause on the new reciprocal tariff plan announced on April 2. The universal rate of 10% remains in effect. However, and notably, an accelerating trade war with China has resulted with both countries massively hiking their rates on the other. As one of the U.S.’s top three largest trading partners (along with Mexico and Canada), China accounted for 13.4% of all U.S. imports in 2024, according to data from the U.S. Census Bureau. The double threat of both rising costs and deteriorating demand lingers even with the current tariffs as structured, along with the economic effects of uncertainty that trade policy could change radically with little warning.
Economic uncertainty has dampened sentiment that was in an upward trend toward the end of last year. The Vistage CEO Confidence Index dropped more than 22 points from a value of 100.8 in 4Q2024 to 78.5 in 1Q2025. This survey of 1,749 chief executives at small and mid-size companies shows that 41% of respondents believe overall economic conditions have worsened compared to a year ago, and 42% expect future economic conditions to worsen over the next 12 months. This marks a stark increase from 21% and 13%, respectively, who said so in the previous quarter. In addition, more than half (51%) expect their company to raise prices within the next three months, 39% of whom expect prices to increase 7% or more. The majority (69%) say the administration’s trade and tariff policies will negatively affect their business, while 8% believe it will have a positive effect.
Despite the challenges posed by tariffs, there are areas where executives see potential for expansion and growth, including tax policy and regulatory compliance.
The ability to compete for talent remains crucial for recruiters, even in a slower hiring market. Knowing what candidates value allows recruiters to describe roles and make offers in a way that resonates.
Despite the current sluggishness in hiring, a shortage of talent remains a very real concern for employers. As the U.S. Chamber of Commerce reports, there are currently 8.0 million job openings in the U.S. compared to only 6.8 million unemployed people. This means that recruiters must be attuned to what candidates are looking for as they screen candidates for new roles.
Luckily, Gallup shed some light on this question with its latest survey of U.S. workers, which found that the top four factors that are very important in deciding to take a new job include:
Of note, a fifth driver—accelerating professional or career development—is of more importance to Gen Z (43%) workers, compared to Millennials (31%), Gen X (22%), or Baby Boomers (17%).
While aligning on pay and benefit expectations is a critical step when screening candidates or gauging their interest in a role, the other drivers listed above may also be worth addressing when screening candidates or making an offer. Understanding what a candidate values in terms of work-life balance or what motivates them allows a recruiter to emphasize those impactful aspects of a new job opportunity. And in an uncertain economy, recruiters should be mindful that job seekers are particularly concerned about job security.
The ability to compete for talent remains crucial for recruiters, even in a slower hiring market. Knowing what candidates value allows recruiters describe roles and make offers in a way that resonates.
