Over the past few years, the competition for talented individuals has been intense as reflected in the low unemployment rate.
Anyone who was smart, motivated, and industrious had lots of employment options.
The competition for talent was most evident in online job boards, career sites, and search engines.
In the job-search industry, competitiveness is commonly measured by the Linkup 10,000 index.
Like a stock market index, this index moves up and down based on the total number of job openings for the 10,000 global employers with the most job openings in the U.S. on any given day.
Overall, the index is down 16.1% in the last 30 days.
New job openings plummeted 20% and jobs removed skyrocketed 23% since mid-March.
Jobs removed jumped to 1.7 million, about 300,000 jobs higher than the trailing 12-month average.
What’s this mean for the real estate industry?
In the next few months (and maybe longer), there will be much less competition for talented individuals.
Many more people will be open to hearing what a real estate career could mean for their future.