Bally Fitness

Watch out, LinkedIn: Facebook is gaining on you

September 10, 2009: 7:00 AM ET

Social networking site elbows in on LinkedIn's job-finding franchise.

When it comes to finding a new job, they say it's all about who you know. With the rise of online social networks that has never been truer.

Today, 42% of adults in the U.S. with Internet access maintain a profile on a social networking site, up from 20% in 2007, according to Forrester Research. And in an economy where almost one-tenth of the population is unemployed, more job-seekers are likely to look for opportunities online.

Meanwhile existing members of social networks may take the time to fill in more of their job history in their profiles.

Recruiters have been scouring professionally-oriented social network LinkedIn for qualified candidates for years now. More than 40% of Fortune 100 companies pay to use the site to find talent among its 46 million members.

But social networks are still evolving as places to hire and be hired, and Facebook, with its 250 million members, is gaining ground. More

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