The highly anticipated February jobs report was released on Friday by the Bureau of Labor Statistics, and revealed the national unemployment rate held steady at 8.3%. The economy added 227,000 jobs in February and, according to some, is a positive indication of our country’s economic recovery. The BLS releases the unemployment numbers every month, but February’s figures are particularly interesting because of the political implications they have in an election year.
Instead of addressing the politics of the numbers, let’s focus on the fact that our job market could potentially be recovering. After all, we’re in the business of connecting job seekers with employers and have been working tirelessly to build tools that put job seekers back to work.
Although the positive news is well received, there are still glaring discrepancies in our labor market – specifically, the 24 million Americans that are still unemployed or underemployed while 52% of US companies have trouble finding talent. This is a clear indication that the distribution model is broken, and it’s essential for companies to continue to disrupt the status quo and close the communication gap between job seekers and employers.
The “Great Recession” impacted each industry differently, and some fared better than others. The reality is that all companies were forced to evolve and adapt in order to survive, and the same logic applies to how employers find talent. Employers must put their positions in front of as many relevant eyeballs as possible, and social media is the most logical place to start. Facebook has as many users as the entire Internet did in 2004 and Twitter is now growing at a faster pace than Facebook – the untapped talent pool in social media is undeniable.
The unemployment rate is just one indicator, and we’re also starting to see a shift from the “old” online recruiting model. Forward thinking mayors in Newark and Atlanta have already adopted new, social technology to help job seekers connect with employers, and the masses are beginning to follow suit.
Are you incorporating social media in your recruiting strategy? Sound off in the comments below.