Weekly Data

WHAT THE DATA SAY: 1 in 3 hiring managers holding back or reskilling from within due to budget cuts

By: Ray Day

CONTACT:

Ray Day
ray.day@stagwellglobal.com 

We wanted to share our latest consumer and business insights, based on research from Stagwell. Among the highlights of our weekly consumer sentiment tracking:

MOOD OF COUNTRY STEADY

Americans’ views of how things are going remained steady last month, according to our poll with the Center for American Political Studies at Harvard University.

  • 30% of Americans say the country is on the right track (compared with 30% a month ago), and 30% say the economy is on the right track (compared with 32% last month).
  • 48% say their personal financial situation is becoming worse (compared with 48% a month ago), while 26% say it is improving (compared with 24% a month ago).
  • The presidential horse race remains 50-50 – with both presidential candidates winning their respective party bases. Male (50%), white (54%) and rural (59%) voters favor Trump, while Black (71%), urban (57%) and college-educated (52%) voters favor Harris. 33% of independent voters say they still are weighing their final choice.
  • On the issues, Harris is seen as favoring open borders, compassionate enforcement of laws, free healthcare for immigrants and electric vehicles. Trump is viewed as a stronger ally to Israel, harsher on China and more of a defender of free speech on social media.
  • See also: Converse takes off among liberal consumers after Harris becomes the Democratic nominee
HIRING FROM WITHIN

Hiring managers facing budget constraints are increasingly reskilling workers to manage costs and fill jobs, based on our Harris Poll survey with Express Employment Professionals.

  • 33% of hiring managers say budget constraints or the inability to hire is responsible for stagnant or decreasing hiring plans.
  • Rather than recruit new candidates, 68% of hiring managers plan to reskill employees this year, an 8-point increase from spring 2021.
  • Most plan to offer company-led training sessions (71%) or on-the-job training by other employees (62%).
  • Some will utilize third-party training courses (46%) or artificial intelligence (16%).
  • See also: Upskilling is the future’s new currency
80 IS THE NEW 60

Older adults outnumber people under 18 for the first time in American history – and what’s considered “old” is being redefined, according to our Harris Poll research with Age Wave.

  • The definition of “old” has been pushed back 20 years, driven by a new breed of older adults.
  • 71% of those aged 65+ believe that the best time of their lives is now or yet to come.
  • 83% of adults 65+ say it’s more important to feel “useful” rather than “youthful” in their retirement years.
  • 71% of adults 50+ say they would take a pill that would give them an extra 50 healthy years.
ICYMI

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