At the same time, these changes are bringing with them new sets of concerns and conflicts, as we were reminded by recent events in Seattle. Here in New England, the good news associated with economic change has raised some new challenges, and in my comments today I'd like to focus on one issue in particular that is especially close to our hearts at Northeastern - the issue of workforce development in the new circumstances we face. New England is operating at near full-employment. The unemployment rate for adults with a bachelor's degree or better is under 2 percent. This is a great time to be a professional looking for a job, but it is less enjoyable for headhunters and human resource managers.
Similar shortages exist in biotechnology, defense and related high-technology fields.
The competition for talent is fierce. One human resource recruiter at a high tech company told me recently that she felt she was working in a war zone. We have encountered labor shortages in the past, and we have addressed them through a variety of national, state, and local strategies, as well as the actions of individual firms. Those of you who were here in the 1980s will recall the Bay State Skills Corporation and the Employment and Training Choices Program which helped high-end and disenfranchised workers find a niche in the new economy of that era. When the economy slows, however, we tend to pull back from the business of job training.