This is the first in a series of Talent Stories from 2017 you may have missed. I find some of this very disturbing, even shocking. What are your thoughts??
According to Morningside Hill actual total U.S. unemployment was closer to 25 – 30%!
Today’s employment is not remotely like the mid-‘80s.
However, the Bureau of Labor and Statistics’ calculation and reports are based in the 1980’s Reagan era model.
Today’s “gig” economy and the acceleration of part-time, contractual and contingent workforce has neither been accounted for nor factored into BLS reporting.
For those not following the U.S. employment market, some of the most enlightening and perplexing Morningside points were:
- A person laid off from a living wage job gets counted as 1 unemployed; however,
- If a person replaces the lost job with 3 part-time jobs it is counted as 3 new jobs.
- The bizarre Reagan era BLS “birth / death rate” adjustment accounts for 93% of all jobs created since 2008; but,
- According to Quartz almost all new jobs (10,000,000) created 2005 – 2015 were part-time temporary alternative gigs.
If 25 – 30% unemployment is correct, it looks more realistic than the published U-3 rate of 4.1%.
How does high unemployment align with business’s understanding of the “Talent Gap” crisis?
In today’s “Talent Gap” era this is a vast untapped talent resource for those who understand it and can harness it.
Did you know less than 20% of the U.S. talent market is actually looking?
However, nearly all talent (100%) would welcome contact for a new position!
Washington Search Partners can help you identify and hire both active and passive top talent hiding inside and
outside your industry…..maybe entirely invisible and unidentifiable….. and we do this in 30 days or less.
Next: What’s happened to the “Middle Class”?