Austin, TX -- (ReleaseWire) -- 03/27/2018 -- The economic recovery has arrived and is in full swing. According to the Bureau of Labor Statistics, the total number of individuals filing for unemployment benefits has plummeted to the lowest level in more than four decades. In addition, private employers have added jobs to the workforce for seven straight years in a row.
These forces have combined to create a historically low unemployment rate of only 4.1%, the lowest level since 2000. According to the Bureau of Labor Statistics, this past February alone saw the creation of over 313,000 non-farm payroll jobs.
Nevertheless, a record number of jobs remain open: around 6.3 million. That's just about one job opening for every officially unemployed person in the country. While matching the unemployed with the right job is difficult for a variety of reasons, there are things both potential employees and employers can do to improve the odds.
Employers can re-evaluate their job descriptions and requirements and make sure that the requirements for the roles are necessary to perform the job well. Many time employers have a long checklist of qualifications as they search for the perfect employee. Employers often think of every qualification as a "must-have", when in reality there are generally far fewer "must-haves" and far more "nice-to-haves". Correctly classifying characteristics can open up the talent pool more broadly. Training can often build the "nice-to-have" capabilities as well.
If employers are in the education sector, they can work with a recruiting and hiring organization to expand their visibility into the potential candidate pool. National firms like WorkMonger are revolutionizing the way organizations and mission-driven professionals connect for non-teaching jobs in education by using a proprietary matching algorithm on an extensive in-house database of qualified candidates. Using a matching firm like WorkMonger ensures that employers are not missing out on the hidden candidate pool. There are also things jobseekers can do to improve their chances of getting hired.
Jobseekers can explore training opportunities and might consider obtaining additional degrees or certifications that more closely match employer needs. They also need to ensure that they have an up-to-date resume with a complete LinkedIn profile as many employers routinely evaluate candidates based on these profiles. Jobseekers can also register to be in the database of matching organizations like WorkMonger. By completing a profile, jobseekers are continuously evaluated by the matching algorithm for open positions.
According to John Troy, CEO of WorkMonger: "While technology has made it easier for JobSeekers and Employers to connect, this brings additional challenges of too much information, too many options, too many resumes. I launched WorkMonger to leverage the power of technology and data to break down the barriers that separate great organizations and great people, making it faster, cheaper, and easier for them to find each other. I chose to start with a focus on the education sector because I have a strong passion for ensuring every student has access to an excellent public education."
It's important for both employers and employees to adjust their behaviors for their own good. Every open position in the economy is money left on the table. It's a lost paycheck to a worker. It's also lost productivity to the company and it's lost growth for the U.S. economy.
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