Re-Calibrating Labor Markets

Labor markets are failing us.

“Us” includes individuals, families, businesses, communities, and economies.

Here is why.

Effective labor markets should facilitate a basic economic exchange where people trade effort/skills/time for money/goods/experience/etc.

But that’s not happening, and we all pay a heavy price.

Think of it this way. If you were to build a labor market from scratch, you’d want it to work on the basis of quality useful information that ensures the right jobseeker gets hired for doing the right work by the right employer and is paid the right price for her/his time and effort.

Can you imagine NASDAQ thriving without accurate and material financial information about the business and growth potential of the companies that offer their stock there?

Well, that’s exactly how our labor markets “work” today.

And that got to change for the benefit of everyone.

Changing this requires a wholesale re-calibration of the type of information that’s used by employers and jobseekers to “trade” in the market.

Fortunately, though, employers and jobseekers can use such information to their advantage right now.