Adapting to a Tight Talent Market
As of December 2018, 129.14 million people in the US are employed on a full-time basis.
Now let’s look at unemployment. During the Great Recession, unemployment peaked in 2010 to 14.83 Million. Unemployment incrementally dropped over the next few years, and in 2016 fell to 7.75M, and 2017 dropped to 6.98 million.
The current US population in 2017 was 325.7 million and today sits at 328,254,391 million according to The US and World Population Clock provided by the United States Census Bureau.
The Bureau of Labor Statistics, (BLS) calculates the Civilian Labor Force at 49% of the US population, or 164M people. This gives us a 4.25% unemployment rate for the civilian workforce.
We can also calculate that 78% of the eligible civilian workforce is working on a full-time basis. The rest are working on a part-time basis or are unemployed.
So what does this mean for your sales team?