February 2025: Deel IPO Ready, JobMedic Dies, Zelt is Here to Save the Day….
Big week in talent acquisition tech, Job Board Doctor friends! The question is, where to start? Deel’s IPO prep, U.S. job numbers, JobMedic’s dies…or something else? Let’s dive in.
Economic News
United Kingdom
The UK economy remains on shaky ground. While wages are rising, unemployment ticked up slightly from 4.3% to 4.4%. Last week, The Bank of England cut interest rates by 0.25% as expected, with another cut likely by June 2025. However, it also halved the UK’s growth forecast for the rest of the year, citing persistent inflationary pressures.
🔗 The Guardian – UK Pay Growth & Interest Rates
🔗 The Guardian – Nissan-Honda Merger & Economic Updates
United States
January’s job numbers fell short of expectations, raising concerns about hiring trends in early 2025. The Consumer Confidence Index fell in January as well with ongoing fears of rising prices and the impact of mass deportations providing a consistent nagging feeling in the brains of US consumers.
"Views of current labor market conditions fell for the first time since September, while assessments of business conditions weakened for the second month in a row," said Dana Peterson, the chief economist at the Conference Board. "Additionally, references to inflation and prices continue to dominate write-in responses."
🔗 Reuters US Consumer Confidence January
🔗 Financial Times – Trump’s Reciprocal Tariff EO
Economist Steve Rattner explains the intersections of inflation and consumer confidence with his glorious charts in a way better than this doctor ever could. (Watch until about the 5 minute mark for the data and stop there to miss the politics).
Thursday, Trump issued another far ranging Executive Order on Thursday with a focus to further reframe US trade policy with a 180 day review of all trading partners with an eye to implement reciprocal tariffs to reduce trade deficits.
Ending on a positive note, Aspen Tech reports in their February Labor Market Trends Newsletter – As of the end of January, the median full-time salary stood at $60,320, reflecting a 7.41% YoY increase and a 0.52% MoM rise. Part-time wages also saw growth, reaching $18.25 per hour — up 3.28% YoY and 1.39% MoM – Thanks, Lana!
Money Moves
Deel Prepares for IPO
HR unicorn, employer of record (EOR) company, Deel is reportedly gearing up for a 2026 IPO.
🔗 CNBC
HRTech Startup Zelt Raises €5.7M
In a press release, Zelt is aiming to “fix people operations once and for all.” Every TA Tech veteran is now groaning in unison, “If I had a nickel for every…. “Thanks Zelt, we have been waiting on a PE guy and a social media product lead to come “fix it” for the rest of us.
🔗 EU Startups
Earnings
DHI Group
- ClearanceJobs revenue: $54.1M (⬆ 8% YoY)
- Dice revenue: $87.8M (⬇ 14% YoY)
Research & Reports
iHire’s Toxic Workplace Study
- 75% of employees report experiencing a toxic workplace.
- Major contributors: poor leadership, miscommunication, and unfair treatment.
The most obvious, yet oblivious data point? 82.7% of employers believe their workplace is positive—highlighting a serious disconnect.
🔗 Full Report
iCIMS Research Hub
The February Update also echoed some cautious optimism for the labor market with an increase in January activity and a high focus on healthcare sector growth.
🔗 February Workforce Report
Indeed’s Q4 Market Updates
- Transportation: Slowing, with stagnant wages.
- Healthcare: Demand remains strong.
- Retail: Job postings dip below pre-pandemic levels.
- Software: Hiring struggles continue.
Acquisitions
Phenom Acquires EDGE
Phenom, the AI-driven HR tech firm, has acquired EDGE, a workforce intelligence platform, expanding its capabilities in professional services and global talent mobility. This marks Phenom’s sixth acquisition.
🔗 More Details
Layoffs
- Salesforce Lays Off 1,000 Employees – Part of an AI-driven restructuring.
🔗 Newsweek - Justworks Lays Off 200 🔗 From their CEO
HEAD SCRATCHER
JobMedic Goes Offline
UK job board JobMedic has gone offline. Originally Staffnurse.com was acquired by Careerbuilder in 2014 and sold off to Kariera SA when CB sold its international operations in 2023.
No announcements have been forthcoming from JobMedic regarding cessation of services. Thanks to Matt Farrah (Nurses.co.uk) for the tea!
BlackRock Buys then Cuts ZipRecruiter Stake
In another head scratcher last week, BlackRock sold nearly half it’s shares (over 4MM) in ZIP at $6.88 per share. This sell follows a end of year purchase of more than 1 million ZIP shares at $7.24 per share. Oddly enough, Zip stock closed at $7.73 as of this writing.
That math has definitely got me scratching my head.
🔗 GuruFocus – BlackRock Buys ZIP
🔗 GuruFocus – BlackRock Reduces ZIP Stake
Reality Check
🚨 With a (mostly) complete federal hiring freeze and continued issues with non-profits receiving government payments, how are job board leaders serving these sectors adjusting?
Are you feeling the squeeze, or am I off base? Tell me here, and I’ll share your thoughts next week—with your permission, of course! 😊
Big thanks to everyone who reached out about last week’s reality check! I heard validation, concerns, and even some reports that things are going well. Right or wrong, I love hearing from you all.
Until next week,
The Doc
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