MENASHA, WI (WTAQ) – The unemployment rate is continuing to drop to the point where there is now more open positions than unemployed individuals.
There were more than 7 million open positions listed in August, according to the U.S. Labor Department.
According to the department, there were more than 6 million people were unemployed during that time.
The unemployment currently sits at a near five-decade long low of 3.7 percent.
This dynamic has forced employers to adjust their approach and this has affected many businesses in Northeast Wisconsin.
The change was apparent at the Fox Valley Technical College Job Fair on Wednesday where hiring employers were promoting boosted benefits among other factors aimed at attracting young workers.
Many of those companies looking to attract a new generation of workers have found that money isn’t the only factor.
“With the younger workforce, we found that they wanted more vacation and we’re looking at our pay structure as well,” says Molly Schecklman of Innovative Machine Specialist, Inc.
Brandon Fochs, a student at FVTC, agrees that money isn’t everything right now.
“I’m not looking for a lot to start off with, just the ability to grow, the ability to make more as I stay there and show my dedication to the company,” says Fochs.
Travis Rewalt with Neenah Foundry lists the positions his company is looking to fill.
“We’re looking to fill automation technicians, looking to fill controls roles,” says Rewalt.
Many employers also noted declining enrollment at manufacturing schools is a challenge when searching for new hires.
Shecklman describes some of the difficulties her business has faced when searching for new hires.
“There are few people who are unemployed, and those people aren’t necessarily looking at the skills and training jobs that we have,” she says.
