Hiring is slowing — slowly. It might be just what the economy needs.

Hiring is slowing in many sectors of the economy as the global pandemic continues to effect spending, travel, and production. Despite this, some sectors are still continuing to hire, albeit at slower rates than what was seen before the pandemic. This slower rate of hiring might actually benefit the economy in the long run, as it gives employers more time to match the right people with the right roles, and allows those people to specialize their skills more so they can better meet the changing demands of the labor market. Slower hiring could also help to attract more qualified applicants, and ensure long-term employee retention. Thus, although slower hiring may be concerning for some, it could ultimately help the economy grow in the long run.