The Bureau of Labor Statistics released jobless rates today. Good news over all with lower job rates in 336 of the 388 metropolitan areas, only higher in 45 and unchanged in 7 for a total unemployment rate of 4.5%. But how is the Philadelphia metropolitan area doing? Philadelphia had the highest division rate among the largest metropolitan areas with a jobless rate of 5.9%. Looking at our total metropolitan area, which includes the surrounding counties and Camden, NJ and Wilmington, DE the jobless rate is 4.8%. So what does all of that mean? From our perspective we are seeing a healthy employment market-lots of opportunity with a smaller pool of candidates. We are very busy helping our clients fill their job vacancies and now more than ever they are searching for top talent that they can develop for the present and future. We often hear our clients worry that a hire today will need to be replaced in less than 3 years. Our advice is career management…create the path that entices your best folks to grow within your organization. The War for Talent may now be in the “Reconstruction” phase.
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