The US Labor Market Is a Challenge for Recruiting

While substantial improvement in the labor market has been made since the end of the Great Recession, it is important to admit that many Americans are still suffering from its effects. The Great Recession, which officially lasted from December 2007 to June 2009, caused damage to the processes. In 2008 and 2009, the US labor market lost 8.4 million jobs, or 6.1% of all payroll employment, according to The State of Working America.

In the past year, the labor market has seen robust job growth at an average rate of about 226,000 new jobs per month. However, there are still more than 2 million Americans who have been unemployed for more than half a year and are still actively searching for work; 25.7% of all the unemployed workers fall into this long-term unemployed category. This means they lose their skills in the rapidly growing tech environment and may be less useful to a prospective employer. Nevertheless, they are the basic “skeleton” of the market of the unemployed, with which the recruiter often have to work. This fact plays docilely into the hands of recruiters as the number of potential candidates for big data grows.

PREMIUM CONTENT: June US Jobs Report

The vast amount of data on these potential candidates grows with incredible speed. This leads to a significant increase of competition in the labor market and makes the recruiter’s’ job much more difficult.

To deal with this, modern searching and optimizing tools were created handle candidates information. For example, talent acquisition platform SignalHire allows for analyzing potential candidates from competing companies but also provides specific statistics on the amount of workers and locations according to certain skills. According to SHRM research, 87% recruit other salaried employees using social platforms. Such solutions as tech recruiting platforms  Entelo, SignalHire, TalentBin etc.  allow recruiters to gather the profiles of candidates throughout many public networks and to analyze optimally all the information about the candidate’s market.

In addition, professional services for recruiters can broaden the base of candidates, including those who are “likely to switch,” (those candidates that are employed, but ready to move to another company).

Recruiters and sourcers should deal with the volume and variety of all this information. Pew Research found that 54% of Americans use the Internet to research available jobs, and nearly 45% apply for jobs online. Despite the considerable super-saturation of the labor market, modern platforms and recruiting technology allow recruiters not only to fill the empty jobs with unemployed candidates but to find exactly the right person for his perfect position.

 MORE: The Best Tools for Smart but Busy Recruiters

 

Mariia Shymanska
Mariia Shymanska is content writer and strategist at SignalHire.


Mariia Shymanska is content writer and strategist at SignalHire.

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