ZipRecruiter Stock Slides on Slower Hiring Trends. What It Says About the U.S. Jobs Market.

ZipRecruiter

stock dived Wednesday after the online hiring platform posted weak guidance, citing a “softening hiring environment.” This could be an early sign that the hot labor market is cooling down.

The online hiring platform said while reporting earnings Tuesday that it expects sales for the current quarter to be between $176 million and $182 million. That marks a decrease of between 23% and 20% from last year; the company said employers have tightened their recruitment budgets and have executed layoffs.

ZipRecruiter

(ticker: ZIP) also expects sales for the full year to fall between 13% and 15%.

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