The current job market sucks. Even the most educated and skilled workers are having a tough time finding work. The unemployment rate is the highest it’s been in five years and is expected to get even higher in the coming months.
In September, 6.1% of Americans were without jobs. This month the rate will likely top 7%. The forecast doesn’t get any better in 2009, when economists predict the rate to peak at over 10%.
Those out of work are frantic to find new employment, and those currently employed are preparing themselves for a time when they’re not so fortunate. At a time when many companies are cutting costs and axing jobs, “professional” networking sites, like LinkedIn, are cashing in.
LinkedIn, a social-networking website for the business community, has experienced a 25% increase in signups since the economy crashed late last summer. Since mid-September, the site has seen about 1 million new members every two weeks.