Monday, July 09, 2012: Now that the social networking giant, Facebook is free from its IPO worries, the company is making fresh announcements back-to-back. First the dedicated app store feature followed by some other significant tweaks. Now if reports are to be believed, the company is all set to give tough competition to online job portals. And why not, the network has the maximum number of people that any network has ever seen.
Sources close to the matter have revealed that Facebook is planning to launch its own job board after teaming with existing job-posting companies. Media reports indicate BranchOut, Jobvite and Work4Labs will be at least three of the companies that will pair with the platform. Recent data suggests that the job-posting market is worth about $4.3 billion.

Last year, the company had teamed up with the US Department of Labour and three employment agencies to bring down the 9.1 per cent unemployment rate in the country, using social media. This project may also now include a Facebook job posting system. This alliance for the first time gave rise to formal job hunting content on Facebook -- which some recruiters already prefer over LinkedIn -- for the first time.
Facebook had issued a statement after the partnership that reads: “Systems where new job postings can be delivered virally through the Facebook site at no charge.”

Now it is yet to be seen how this job posting system will emerge and how meaty are the plans to turn it into a job searching wing.