Historically low unemployment rates have proven to be a challenge for businesses on multiple, related fronts.
For one, low unemployment simply means there are fewer people out there actively looking for jobs, making recruitment difficult. On top of that, even if employers have a large pool of applicants for jobs, finding someone with the right skills may be very difficult.
And, even if the right person is brought on board, retention can be challenging, as other companies are often offering competitive salaries and other incentives to attract the best staff.
