Anthony LoPinto
Last Friday, the Labor Department reported that the US unemployment rate hit its lowest level in almost 50 years. Just 3.7% of the nation's population were out of work last month. At the same time, employers added 134,000 jobs, marking the 96th consecutive month of gains.
While underlying strength in the economy is fueling low unemployment, an increasing number of Baby Boomers are retiring, which is reducing the available labor pool. This phenomena of lower unemployment and a dwindling skilled workforce is likely going to continue.
The result is what some economists have coined a “sugar-high,” with the argument that the current situation cannot be sustained. This may be a bad omen for CEOs and corporate boards, which will increasingly find the executive talent pool short on the caliber of professionals they are looking for.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Anthony J. LoPinto
Tony LoPinto is the Global Sector Leader of Korn Ferry’s Real Estate Practice and founder of SelectLeaders. For the past 18 years LoPinto has been serving his clients with deep knowledge and perspective on talent needs and organizational challenges to public and private companies – knowledge gained from a 25-year career in real estate. Prior to his current position, he founded and served as chief executive officer of a boutique real estate executive search firm, where he oversaw offices in New York, Chicago, Washington, DC, San Francisco and Los Angeles. He has successfully led several high profile search engagements for chief executive officers, directors and a wide-range of executive level positions across all industries and sectors. He earned a Bachelor of Arts degree in European history from Loyola University in Chicago.
