Is a Job Ad Exchange Helpful in a Downturn?

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Job ad exchanges are known for their reach – turning every stone to find the candidates you need. But in a downturn, priorities change and you often find yourself candidate rich. In fact, oftentimes you are getting more candidates that you know what to do with. Why would you ever want to throw gasoline on this fire?

Hiring in a downturn is just as hard as in a very low unemployment market – the challenges are just different. At this time, the unemployment market is very different from what we saw in 2008-2010. This time, unemployment has come from very specific industries and the elimination of many low- to no-skill positions.

As of the end of April, we have about 14.7% unemployment, but we still have 85.3% employment. And while companies have cut their job postings by 50%, while not enough to cover everyone who has recently become unemployed, there are still more than 1.1 million open jobs on the market today. The hiring market doesn’t stop – it just slows and evolves. Within those available jobs, we are still faced with the same challenges: hard to fill positions don’t suddenly become easy because the market shifted; they are hard

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