Bulletin: Reemployment – “The Hidden Half”
The Hidden Half
In March nearly five million US jobs were open – waiting for the right job seeker to show up, but unemployment was stuck at 5.5%, with over 8 million workers looking and about a third in the doldrums of long-term unemployment.
One reason we have millions of jobs and people still stuck is that half of the openings are “hidden” – not posted publicly – and job seekers rate their job search skills at around a C- / D+. They aren’t finding the openings efficiently or effectively – so the jobs remain open longer than they should.
Unfortunately, poor job search preparedness leads to job seeker discouragement and a “work search integrity” problem that is now the number one cause of “overpayments” in our unemployment insurance system. It’s costly both in human terms, e.g. Long Term Unemployment, and in dollars, at $1.3 billion in overpaid employer taxes per year.
View our reemployment bulletin for more on this topic ; including six common reasons why employers don’t advertise openings as well as what exiting employees can do to find hidden jobs, land them faster, and avoid being part of a costly work search integrity problem.
For additional information on Equifax reemployment services and other insights, visit www.equifaxworkforce.com/reemployment
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