Opened executive search volume in November dropped 19% from October, a seasonal development that was to be expected. November 2024’s 19% MoM drop is better than November 2023’s 22% drop. Both 2023’s and 2024’s monthly declines are steeper than 2020-2022 comps, which saw seasonal adjustments of 6-10%. If past years are any indication, December will be softer yet, dropping another 10% or so in opened search volume. With that comp in mind, Q4 opened search volume would come in 10% weaker than Q3.