In today’s rapidly evolving job market, traditional hiring practices that focus solely on academic degrees are becoming outdated. Recognizing this shift, the SHRM Foundation, in collaboration with the Charles Koch Foundation, has announced an exciting new partnership and the launch of the “Ready for Success: Adopting a Skills Mindset in Employment Practices” toolkit. This alliance aims to equip employers with the necessary tools and training to embrace skills-based hiring and navigate the emerging skills-based economy.
The Federal Reserve, responsible for adjusting interest rates to control inflation, has been closely monitoring the job market, which continues to fluctuate. The number of jobs being added each month is slowing down, although it is still exceeding predictions. The unemployment rate is also up, at 3.6%. However, this number is still just about the lowest unemployment rate the country has ever experienced – that is to say, this is not necessarily any reason to panic.