Great article from Forbes on Google for Jobs.
Several billions of dollars are spent on job advertising (Indeed, Glassdoor, LinkedIn, CareerBuilder, and others compete for this market) and even after people apply, companies on average spend approximately $4,000 per candidate on interviewing, scheduling, and assessment to decide if someone is right for a job. We estimate that the entire recruitment market is over $200 billion worldwide, and nearly every employer is a participant.
Companies like Indeed, Glassdoor, and Dice have long made money off of the large total addressable market (TAM) for jobsearch. Interesting these companies pay massive sums to Google for ad placement in attempts to rank higher than each other for various queries.
Google walks a fine line with these companies and their search ad spend. It’ll be interesting to see how this plays out, but I expect a big shift to come to online job search ecosystem.