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The third party recruiting landscape has changed forever. Call it a 'correction' if you will, but I don't predict that our industry will ever achieve the robust status that it once had. Those days are gone and probably gone forever. Many in years past said that when baby boomers started retiring, there wouldn't be enough people to take their places so that meant opportunity for third party recruiters. That's a valid concept but there's one problem: most baby boomers can't retire. So to position your firm in a place where you can do well, there will be one of two areas where you will find opportunity:

WalMart vs.Tiffany's

There will either be a high end/low end aspect to our business. You'll be able to generate sizable profits when you either capitalize on either a volume aspect or specialized aspect to our business.

Volume: create a niche and market it for mid level positions on a mass appeal with lower margins. Make it up on volume and add value through the sheer size of your operation.

Specialization: find a niche that promises a moderate amount of growth and difficulty in finding suitable employees, and specialize in just that very one narrow niche or sub niche.

Niches are categorized in three areas:

1. Industry
2. Function
3. Geography

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Economic activity in the U.S. continued to rise at a modest pace from September to early October, according to the Federal Reserve's latest report on regional economies (known as the "beige book"). Improvements in manufacturing activity, non-financial services, consumer spending, new vehicle sales, and tourism helped to propel the economy forward, but sustained weakness in housing markets, commercial real estate, and construction continued to limit the economic recovery. Hiring remained constrained across most of the nation, with most businesses expressing a reluctance to add to permanent payrolls given the current economic environment.

Manufacturing activity continued to expand, with production and new orders rising across most Districts. Demand for non-financial services was reported to be stable to modestly increasing overall. Consumer spending was steady to up slightly, but consumers remained price-sensitive, and purchases were mostly limited to necessities and non-discretionary items. New vehicle sales held steady or rose during the reporting period; sales of used automobiles were strong as well. Activity in the travel and tourism sector picked up.

Housing markets remained weak with most Districts reporting sales below year-ago levels. Reports on prices suggested stability, however. Conditions in the commercial real estate sector were subdued, and construction was expected to remain weak. Lending activity was stable in most Districts. Agricultural conditions were generally favorable, and above-average yields were expected in most reporting Districts. Activity in the energy sector continued to expand.

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The Conference Board Reports:

• Job demand has surged 870,000 for an increase of 27% over the past six months
• April increase in labor demand is broad across states, regions, and many occupations
• Demand for workers rises in numerous occupations including management, office help, and sales workers

Online advertised vacancies rose 222,700 to 4,150,000 in April, according to The Conference Board Help Wanted OnLine™ (HWOL) Data Series released today. Over the past six months, labor demand has increased by 870,000, and this increase has been widely shared across the States and occupational categories.

"In a welcome sign for the job market, employers began the spring hiring season with a large 223,000 increase in demand for workers," said June Shelp, Vice President at The Conference Board. "Providing evidence of the strengthening economy, labor demand in April rose in practically every State and a wide variety of occupations from management positions to office workers and sales help. Improved job prospects also contributed to the April rise in The Conference Board Consumer Confidence Index® to its highest level since September 2008. The gap is beginning to narrow, but the number of unemployed continues to outnumber advertised vacancies by 3.82 to 1 (based on the latest March unemployment numbers)."

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