Impact of the Economy on the Labor Force Varies by Talent Segment

The recession has dramatically impacted the labor force as a whole, significantly increasing the overall unemployment rates and scaring employed potential candidates out of the job market. Despite increased unemployment, many organizations are still struggling to fill critical positions in large part because for many talent segments, regions, and industries unemployment still remains relatively low. For example, in the US the unemployment rate for participants with a bachelor’s degree or higher is only 4.7% and the unemployment rate in the Utilities industry is only 4.2%. The effect of the recession on labor force segments has been far from equal. Consequently, many critical positions still remain difficult to fill despite high unemployment.