If you’ve seen any news in the past year, you know we’re currently knee-deep in one of the tightest labor markets in years. It all started in spring 2021, when burned-out workers triggered unprecedented churn, leaving millions of jobs open. Then a funny thing happened. After having to undergo mass layoffs and downsizing the previous year, employers suddenly couldn’t find anyone willing to fill their newly vacant positions.
In August 2021, 73 percent of employers said they had difficulty attracting talent. Six months later, job openings still sat at over 11 million, while unemployment rates reached their lowest since before the pandemic. Said another way: The opportunities are there; workers just aren’t interested. Why?