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In a likely related bit of news, shares of LinkedIn were down about 5% Monday afternoon as word of Facebook's possible new venture started to make the rounds.
More companies are trying to tap Facebook Inc.'s 750-million-plus user base to find new employees, threatening traditional job boards and competing with LinkedIn Corp. Companies are trying to tap Facebook's 750-million-plus user base to find new employees, competing with LinkedIn, which has dominated the online professional networking arena. TweetLast week Labor Secretary Hilda Solis announced a partnership with Facebook designed to facilitate employment for America’s jobless through the use of social networks. The new feature would pull in job listings posted on third-party sites and make them accessible via search for Facebook users.

At least one analyst says that LinkedIn and Facebook's listings wouldn't really compete with one another. Facebook will launch public service announcements on Facebook to promote the Page in the 10 states with the highest unemployment rate, and Puerto Rico, which has an unemployment rate of 16%. Others note that while LinkedIn contains a more comprehensive resume database, candidates tend to value referrals from their connections on Facebook more. In addition to posting jobs and videos of current employees on its Facebook page, the company has recruiters and other employees find user groups and join discussions.
Staney said that Facebook users tend to spend more time on the service and are easier to reach than LinkedIn users.

Since February, the number of monthly active users on its Facebook page more than tripled to 11,000, he said. Candidates have been 50% more likely to apply to positions they found through Facebook than through other means, said Mr.

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