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Press Release
(GREENSBORO, NC) DELMARVA (Delaware, Washington, DC, Maryland, and Virginia) is the first major metropolitan area to become a seller's market for labor. According to the United States Bureau of Labor Statistics, the DELMARVA area unemployment rate is currently a low 2.8%, and the rate for Northern Virginia is only 1.8%. (Rates are not seasonally adjusted.) The employment market in that region is causing serious problems for employers who need to hire new workers. Enough opportunities are available that employee turnover has reached dangerous levels in a number of organizations. (The Herman Group) and VetJobs have written a Red Alert Employment Advisory regarding the labor shortage that is beginning to manifest itself in various markets across the United States. Those who follow our forecasts and writings have heard us talk about how we are shifting from a buyer's market to a seller's market in labor. Ted Daywalt, CEO of VetJobs, has seen the same trend and has been warning his clients about the impending turbulence in the employment market. The message has been very clear that the recent economic slowdown was only a pause in the demand for top talent and the employment market would tighten up again. The Red Alert Employment Advisory provides the data documenting that the shift to a seller's labor market has begun. The Red Alert Employment Advisory is a compilation of BLS statistics and proprietary internal studies, which includes recruiting activity, human resource workloads, demand for executives by retained and contingency search firms, Internet job board surveys and other proprietary indicators tracked by the authors. Our research shows that at least ten other metropolitan regions in the United States are positioned to become extremely tight for labor in the near future. The ten regions are identified in the "Red Alert Employment Advisory" and are spread around the country. The trends are in place and the move to a seller's market is underway---at a much faster rate than most people expect. Many companies will be surprised by the rapidly changing employment market! The Red Alert report is available for purchase at a fee of $50 by clicking here. Journalists may request a complimentary pdf file of this document by sending an e-mail to info@hermangroup.com. The Herman Group is a firm of consulting futurists concentrating on workforce and workplace trends and their implications. Emphasis is placed on employee selection and retention as critical strategies. Included in the firm are researchers, professional speakers, authors, and consultants. The Herman Group is based in Greensboro, NC, with affiliates in Sao Paulo, Melbourne, Hong Kong, and Port Louis, Mauritius. Contact Joyce Gioia-Herman at 336-210-3548 or e-mail: joyce@hermangroup.com. |
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