This excerpt is from a newsletter of a colleague of mine, Ted Konnerth. We are both members of the International Retained Search Associates. I liked the way Ted approaches this "new reality" and decided to share it. If you need recruiting help in the area of electric industry, Ted and his Company, Egret Consulting would be happy to help you.
According to the September 2014 statistics from the Department of Labor, anyone with a college degree (across all degrees, from Bachelors through PhD) the unemployment rate is 2.9%. 'Some college' or associates degrees, the unemployment rate is 5.4%; which is the same as high school diploma. For less than a high school education, it's 8.4%. Now, when you look at the aggregate numbers of those classifications, there are 87.8 million civilians with some college through full degrees. High school education has 36 million and we have 10.6 million with no high school diploma.
The US unemployment level is now around 5.9%, but the distribution of that number is obviously heavily skewed by education. The unemployment level for college educated; which comprises nearly all management and skilled positions is effectively at full employment. Even the media has moved away from unemployment issues to more topical hysterical issues like Ebola and ISIL. We never seem to read about issues that are actually 'good stuff'; like how education actually drives employment, or how gas prices have dropped and energy independence is actually possible. But fortunately, there is a dark lining in the cloud of employment; that it's hard to find well-qualified people for more technically demanding roles. And well-educated and trained labor is becoming difficult to lure away; relocation has become far more difficult to accommodate and salaries and perks are rising rapidly. The climate of attracting talent has shifted to a seller's market. Is your company adjusting to that reality?