VCs Ready to Help Play Job Market Matchmaker
Anthony Mirhaydari, Kate Clark September 25, 2017
On the surface, the US job market and the economy are going like gangbusters. In May, the unemployment rate fell to 4.3%—a 17-year low—and it’s hovered at 4.3% or 4.4% ever since, down from a high of 10% in 2009. GDP growth has been steady, if somewhat tepid. And as of July 31, there were nearly 6.2 million job openings in the US, according to the Bureau of Labor Statistics.
But something is wrong. The year-over-year change in hiring has been on the decline since 2014, and it flipped negative earlier in the year—behavior that marked the terminal phase of the last economic expansion in 2006 and 2007. The problem seems to be structural inefficiencies in the US labor market. That is, something is hindering the matchmaking between candidates and jobs.
If it continues, it could cause….READ MORE