US Administrative and Waste Management Services Sector NAICS 56

Jun 2, 2025 - AI, Economic Uncertainty Make Tech Jobs Harder to Land

• Competition for tech jobs is heating up as AI and economic uncertainty have made companies more cautious about hiring while increasing their expectations for job candidates, according to The Wall Street Journal. The length of the hiring process for filling IT roles in some cases has doubled over the last year, according to staffing firm Robert Half. Companies are raising the bar on what types and number of skills they expect candidates to have and are drawing out the hiring process to ensure a proper fit. The number of IT roles is shrinking, as AI replaces entry-level programmers. Firms are also making considerable investments in AI, which can reduce budget resources for IT roles unrelated to AI.
• North America’s top five publicly traded waste haulers and recycling firms spent $1.5 billion on acquisitions in the first quarter of 2025 as the waste management industry continued to consolidate, according to Waste Dive. Republic Services led Q1 M&A with spending of $826 million, primarily from purchasing industrial waste firm Shamrock Environmental. Waste Connections spent over $380 million in Q1, including purchasing New Jersey-based Atlantic Coast Recycling. GFL Environmental completed three deals valued at about $173 million, focusing on tuck-in, post-collection operations in existing markets. Casella Waste Systems bought three firms in Q1 for a combined $103 million, including a Boston-based recycler. Waste Management completed one deal in Q1 valued at $7 million as it focused on integrating its 2024 acquisition of Stericycle. The five firms plan to continue their acquisitive strategies throughout 2025.

• Some travel industry insiders and observers expect summer travel demand to soften amid mounting uncertainties, according to The New York Times. Hotel chains, including Hilton, Hyatt, and Marriott, have reduced their revenue outlooks amid slowing growth. Airbnb and Expedia have also lowered their growth expectations for the coming months. Industry watchers suggest that U.S. policies on immigration and trade may make the US a less attractive destination for international travelers. International arrivals to the US are forecast to drop by 9.4% in 2025, according to research company Tourism Economics. The World Travel and Tourism Council expects 2025 revenue from international travel to the US to drop to $169 billion compared to $181 billion in 2024. Economic uncertainties may also prompt US consumers to pull back on domestic travel.
• The Trump administration’s trade war threatens the recovery of the US office property market, according to The Wall Street Journal. While office leasing activity in the first quarter of 2025 was the strongest since 2019, some businesses are putting plans for new space on hold amid economic uncertainty and recession fears brought on by shifting trade policies. If a slowing economy leads to weaker hiring or layoffs, companies will likely trim their office occupancy to reduce costs. Tariffs could also trigger inflation and higher interest rates, chilling new office development activity. The gradual recovery of the office market is important for cities that have struggled since the pandemic. Healthy office occupancy levels support demand for several types of administrative services, including office and facilities support, security services, landscaping, janitorial, and pest control.