This IDC Insight looks at the post-9/11 market, in which unemployment rose, mass layoffs took place, and job creation was at a standstill. The economy is rebounding in 2005, with fewer layoffs, new job creation, and reduced unemployment. Predictions are that labor demand will continue to outstrip supply in the next five years because fewer people will join the workforce than retire from it.
As a result, there is renewed market interest in solutions that will help companies compete for top talent. One indicator of this interest is recent record attendance at recruiting-focused events, including the ERExpo in San Diego and Taleo World in Huntington Beach.
The market is responding with enhancements to existing offerings, alliances, and acquisitions that aim to reach new markets and new entrants into the recruiting space.