Ian Siegel: Yes. This is Ian. And I am really excited about the growth in jobseekers. We just had our third consecutive quarter of organic jobseeker growth. And the reality is, it isn’t the work that we have done in the current quarter that drives that growth. It’s all the work that we have been doing over the last couple of years, which is now paying dividends in the mid-term and the long-term, and similar to that, over this past year where the macro has driven a swoon in the recruiting industry, we have continued to invest for the mid and long-term. And I would anticipate that these investments will pay off similar to the investments that we made in building jobseeker brand awareness to 80% on an aided basis, as well as things like Phil, our AI personal assistant as well as our ongoing investment in things like our number one rated iOS and Android mobile app.
The payoff for these investments, and in particular, from jobseeker is fundamentally, our product gets better, the larger and more liquid our marketplace becomes and so as far as the long term, what we’re seeing right now is a validation of the strategy we’ve been pursuing, and we remain focused on our long-term product road map.
Trevor Young: Great. Thank you both.
Operator: Thank you for your call and your question. The next question comes from the line of Doug Anmuth with JPMorgan. Your line is live.
Unidentified Analyst: Great. This is Dave on for Doug. Thanks for taking the questions too. So the first one, curious what kind of the messaging you guys are hearing from businesses in terms of plans going into 2024. And looking at it, it sounds like Fed rate easing is what’s needed for employers to get more confidence in getting their hiring plans back up and growing again. Is that the right way to think about it? And are there any other signs that you might be looking for to get more confidence? Thank you.
David Travers: Thanks, Dave. Yes. So obviously, we talk to businesses all the time about their hiring needs and what is so clear at this time is that their level of uncertainty about the outlook is profound. And so what we hear from them over and over again, which is different in other downturns like COVID, for example, where we heard about their businesses falling dramatically is less about dramatic downturns in their business and more about their uncertainty in wanting to invest for the long-term in more and more people. Even though in many cases, the results of their businesses deserve it, they’re reading headlines. They’re talking to other business people and feeling uncertain. And so it’s that – whether it’s through the mechanism of cost of capital from the Fed or other animal spirits that cause an increased level of confidence from headlines and talking to other business people, or whatever the case maybe that increased confidence in duration of outlook and strength that we’re through whatever the next twist and turn of this unprecedented macro cycle is, is what employers are waiting to hear more of.
The good news is, to Ian’s point earlier, we have more organic jobseekers coming in every single quarter who are experiencing what an amazing product ZipRecruiter is, better either for the first time or a better product than when they last needed it a couple of years ago as we continue to relentlessly improve it, make it more human, make the technology smarter. And so we’re confident that as we continue to deliver better and better for these employers, by delivering better and better for jobseekers that when the market turns, and that’s not if, it’s when, when the market turns as it has over and over again throughout many macro cycles in U.S. history, it’s a very safe bet that we will be there for them bigger and better than ever.
