What percentage of businesses have implemented hiring freezes?

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Sixty-three percent of businesses have implemented hiring freezes.

A survey indicates that a significant majority of US businesses have responded to economic pressures by implementing hiring freezes. This measure is widespread across various industries as companies navigate the challenges posed by the ongoing pandemic.
Widespread Hiring Restrictions

The National Association for Business Economics (NABE) survey revealed that 63 per cent of businesses have put hiring freezes in place. This indicates a broad trend of companies pausing or significantly reducing their recruitment efforts in response to the economic downturn.
Impact on Operations and Workforce

Beyond hiring freezes, the survey highlighted other measures taken by firms. Thirty-four percent of businesses have ceased operations entirely or partially, while 31 per cent have furloughed their employees. Additionally, 17 per cent of businesses have resorted to laying off workers, underscoring the severe impact on the workforce.
Economic Outlook and Sales Declines

The survey, which polled 107 business economists, also pointed to a bleak economic outlook. Eighty-six percent of respondents anticipate an economic contraction for the year, with three-quarters reporting a worse near-term outlook in April compared to March. For the first time since the 2008 global financial crisis, a majority of firms reported a decrease in sales over the preceding three months.

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What percentage of businesses have implemented hiring freezes?

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