Start job-hunting - that date is going to keep getting pushed back until you get the message and go away. Hence when the firm presents on campus next year, they will boldly claim they're doing so well that they've never had to withdraw offers, unlike the competition.In actuality, what happens is that the hiring manager/lead partner doesn't have the budget or pipeline of work to justify hiring. However s/he doesn't want to commit to writing off recruitment for the year, just in case things should miraculously turn around. So they keep "forgetting" to sign off the paperwork to confirm the hire. Every time the recruiter/HR reminds them, they bargain for a few more days. Eventually, the reasonable deadline passes and HR has to send out a letter to push back the start date and buy time for the hiring manager to make up their mind one way or the other.Once a manager has realised that they can make do without extra hands, it takes a substantial change in workload before they will change that opinion. Having got used to making do without an extra Analyst or two, there will be no pressure to bring new people in until the economy have firmly taken a new direction.The firm effectively has a very flexible and very cheap "call option" on your time. You do not benefit from this arrangement. Start job-hunting. Worst case scenario, you have a head-start on applications when the initial offer gets pulled.