"overqualified" candidates

Imagine you are a hiring manager for a company. Also, imagine that the current unemployment rate is high and as such you are getting a lot of applications for jobs at your company from "overqualified" candidates (people whose education, experience, and skills exceed the requirements). Based on the reading this week, would you pursue and hire such candidates? Why or why not? Be sure to articulate the pros and cons of this choice in your answer.