Executive hiring has long foretold the overall health of the U.S. economy which has been severely impacted by covid-19 and global socio-political factors.
Analysis of Lead5 data from Q1 to Q2 for 2020 shows a quarter over quarter 30% decrease in executive opportunities, a 35% decrease in PE deals, and a 43% decrease in executive appointments. This decline was expected as executive searches which typically take 90 to 120 days were canceled or put on hold during the lockdown. Industries with the largest decrease in executive appointments from Q1 to Q2 were consumer followed by business services and industrial. Technology, healthcare and financial services also had declines, but not to the extent of the other sectors.
For executive opportunities, July is trending above June through July 10. Some economists predict that the economy will begin a resurgence in Q3 and if that occurs, US companies will respond by appointing new executive leadership teams. Lead5 will continue to monitor these data trends going forward.