This is a 'tale of two economies': Glassdoor CEO
Demand for highly skilled workers in fields such as engineering and financial services is strong but it hasn't spread to to unskilled workers, which has kept the overall U.S. unemployment rate above 7 percent, the CEO of the job-listing website Glassdoor.com told CNBC.
"What we're really seeing right now is a tale of two economies," Glassdoor co-founder and CEO Robert Hohman said on "Squawk on the Street." "We're seeing a tremendous demand for highly educated, highly skilled jobs with a strong service component."
Unskilled workers have "not nearly enjoyed the recovery that the skilled portion of the economy has," he said.
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Initial jobless claims unexpectedly dropped by 23,000 to a seasonally-adjusted 298,000 last week, the Labor Department reported; economists had expected the gauge to tick up to 325,000.
This comes ahead of the big number traders are waiting for — Friday's jobs report for October.
Economists expect to see 180,000 jobs were added to nonfarm payrolls, according to a Reuters survey. Payroll processor ADP said according to its own jobs report, businesses added 215,000 jobs in November.
Hohman, a veteran of Expedia and Hotwire, co-founded Glassdoor in 2008. The job-listing services allows employees to post anonymous reviews of companies and bosses and has data on 300,000 companies.
Glassdoor announced today it had raised another $50 million in funding, which Hohman said would fuel international growth.
—By Craig Giammona, Special to CNBC.com