Four Strategic Steps Economic Development Organizations Can Take to Bolster Workforce Development
28 Nov 2022
Employers across the U.S. have been facing extreme workforce challenges.
According to the U.S. Bureau of Labor Statistics, total non-farm employment continued to grow, adding 261,000 jobs in October. This ongoing imbalance between labor demand and supply means that there are 10.7 million jobs still available, but only 5.7 million people are unemployed. Those numbers boil down to almost 1.9 unfilled positions for every job seeker.
As the labor market continues to grow and show signs of strength, this imbalance isn’t going to self-correct any time soon. For more in-depth insight, you can read our recent article, “Understanding Labor Force Participation Rates & Why People Drop Out of the Workforce.”