Q&A with Pam Fountain-Wilks
Oklahoma’s labor market swings in favor of job seekers for hiring
Q: There’s a lot of talk about the job market and unemployment rates as they relate to economic growth. What does that look like in Oklahoma?
A: Oklahoma unemployment rates are lower than the national average, and have been throughout the economic downturn. As the economy improves, it quickly becomes a candidate’s market.
Q: Explain what’s meant by a skills shortage?
A: Skills shortage is a term used to describe the tight labor market as it relates to highly skilled professions. To be successful, many Oklahoma businesses rely upon professionals in STEM (Science, Technology, Engineering and Mathematics) fields. But companies are struggling to recruit and retain those professionals. During the economic downturn, many employers adopted sluggish hiring patterns. Slow-to-hire companies lose the cream of the crop to their more decisive competitors.
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