Posted on 05/03/2019 11:52:05 AM PDT by Oldeconomybuyer
Next week is National Small Business Week, but owners aren’t likely to spend it celebrating — they’ll be too busy trying to hire workers or keep the ones they have from defecting to bigger firms.
With a 3.6 percent unemployment rate, the lowest since December 1969, the labor market continues to thrive. “This is a worker’s job market,” said Moody’s Analytics Chief Economist Mark Zandi.
But Zandi adds that this is less-than-good news for the small companies that comprise the vast majority of U.S. businesses. “The risk or the concern would be at some point that businesses start to come under financial pressure, particularly smaller ones,” he said.
“Owners are trying to hold on to the employees that they have in a highly competitive labor market,” a March survey from the National Federation of Independent Business said.
They’re not always succeeding. The survey found that although 60 percent of respondents said they were hiring or trying to hire, 54 percent found few to no qualified applicants for those open positions. More than one in five said difficulty in finding workers was the top problem facing their business, and nearly two in five said there were current job openings at their companies they could not fill.
“Small businesses have fewer resources to throw at recruiting and training, so it’s harder for them to get the labor they need,” said Josh Wright, chief economist at iCIMS. Bigger companies also can generally offer more attractive benefits packages, flexible parental and sick leave policies and opportunities for advancement.
(Excerpt) Read more at nbcnews.com ...
Very true. They are just trying to find something to rain on the parade.
Yeah, I bet raising their prices to the new market-clearing price is NOT anathema to them, yet grapsing that labor is also a market, well, that’s another matter entirely....
I have been looking at Indeed.com for a few weeks now, in advance of my college student coming home to look for a summer job. Looks like employers will only reluctantly take people with no experience and train them. If they are really needing to find people, they could actually try taking the time and effort to train them. Take the long view— build loyal workers who will stay longer than they would have, and they may become loyal customers, or may work for suppliers, or may vote for tax-friendly policies for your business.
Or, just network like hell for employees and keep our price low long enough to slide into more of the choice accounts.
I think we plan to gamble on the good economy being sustained and ease rates up after we land some long term gravy.
My wife talked to a neighbor lady with a 12 year old son who mows their own lawn and volia! Problem solved. Back when us boomers were pups and jobs were scare, we all had to be a little creative.
It is called hiring people who don't necessarily want full time work and/or are willing to trade lower pay/higher pay for more/less flexibility.
An artificially depressed labor market push down by immigration. It’s a sellers market for the first time in 30 years.
Rising wages means the working class has more money to spend creating the need for businesses to expand.
Watch for the economy to thrive.
It's time to stick a sock in the economists and their artificial planned economy.
Before the business community demands more workers let them set up shop in unemployment offices.
Let's run a tight job market for awhile. Who knows we may reach 100% employment.
[Good. So hire more Americans!]
Now you’re talking crazy!!
W and Jeb! would not approve!!
Neither would Nancy and Chuck!!
We aren’t raising what we are charging either.
I explained our reasoning already.
This is a low population density area. We rely on being careful and maintaining goodwill with our customers.
I agree with that to a point, but small businesses sometimes run on very thin margins. Salaries that are a bit less than optimal are better than no salary at all.
NBC just had one of the fastest about-faces in media history. Less than 60 minutes
They claimed that Trump talked with Putin about McGahn testifying before Congress.
McGahn only came up in a Q&A between Sarah and the “press”
Meanwhile, instead of the economic news, CNN is running with...“Allegations remain in forefront for Kavanaugh, 7 months after his confirmation.”
There are a lot options out there. Apps like takl, home advisor and the like.
I found someone to do both my front and back yards once a month for $75. Mostly everybody else wanted a min of $100.00.
I live in the southwest and have mostly rocks, few plants, and 4 trees.
If you can't adapt to a sellers labor market you will go out of business. And you should.
I was in Human Resources in another country where the unemployment was 1%. Let me tell you what that was like.
A 22 year old girl would come in to be interviewed for a low level admin position. Used to be called a secretary. She would tell me what she needed to earn. She would tell me when she was taking a 4 week break to go tour my home country or some other place on the globe. She would ask to see her desk, see if it would be close to the window, have a nice view, or would it be too close to the air conditioning vent. Then she’d go home to decide which of the 6 offices she’d interviewed at she would choose.
We paid high school boys $a ton an hour just to move boxes around in our basement.
It was an employee’s paradise.
That’s fine too—as you’ve got your eyes open about supply and demand up and down the chain.
You’ll be surprised what motivates people.
NBC wants higher unemployment?
I’d rather have the check. I guess that’s just me.
Either way, I would have been grateful.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.