LinkedIn COO Dan Shapero shared data today at the LinkedIn Talent Connect Summit that added to the evidence that we are in a frozen hiring market.
Shapero noted that hiring rates have slowed steadily since their pandemic rebound in many countries. The United States, United Kingdom, Germany, France, and Australia all show clear downward trajectories from their 2021-2022 peaks, with no sign of recovery as of September 2025.
At the same time, employees are staying in their current jobs longer than before. LinkedIn’s separation rate—the rate at which employees leave roles—has fallen markedly since 2022.
This job-staying behavior doesn’t come from satisfaction. Candidates are applying to more jobs than ever on LinkedIn, according to Shapero, doubling compared with pre-pandemic levels.
At the same time, LinkedIn data shows confidence in finding new work has been dropping steadily since early 2022, hitting its lowest point in years.
The result: a stagnant labor market where fewer people are quitting, fewer companies are hiring, and workers are uneasy about what comes next.