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 ...
I agree. I’d wager that (in these parts), $12-$15/hr for trained, qualified workers with decent hours would keep a lot of average HS graduates from choosing the massive debt of college instead of a job.
Which country is that?
It was Switzerland. 20 yrs ago.
Trust nbc to find a dark cloud to put in front of a bright lining.
There are still upwards of 90 million out of work, are there not (not everyone is counted in the official numbers)?
Let’s go, small business. This is the situation we all said we wanted - now go and pay market wages and you will attract competent Americans.
For what it’s worth, the local consumer can also help tremendously by BUYING LOCAL as much as possible. If you want the Mom and Pops to survive and thrive money has to circulate to their establishment.
Incidentally, the major outlets like WalMart, Amazon, etc., use your money to work against your and America’s interests. Buy local; bank local.
[NBC wants higher unemployment?]
You can’t have a New World Order without chaos and strife.
Hitler needed economic disaster to bring in the National Socialist German Workers’ Party.
That’s how we got pResident Dwayne Elizondo Mountain Dew Herbert Camacho in 2008.
Yes, you have hit on what this ridiculous piece is really all about.
I'm betting Pocahontas will be the first to suggest this.
It’s an amusing phenomenon to see half the nation
dragged into prosperity, kicking and screaming.
Ahh, the MSM... always finding the sh*t-colored lining.
I’d rather have the check, too. But when you get a ham, you get a ham. When you get a check, it’s never enough.
I would think they could do the math and see it’s equal.
Then again..........
Only a liberal could find a downside to a booming economy.
NO correlation between unavailability of recruits and a rising minimum wage < /sarcasm >
Automation has a stiff start-up cost, but the long-term benefits (no sick days, no missed shifts, no threats of employee strikes or slowdowns of work, no Social Security or tax withholding paperwork and expense, no retirement benefits) would quickly overcome the lack of a warm body taking up space and delivering low or no productivity altogether.
“Being priced out of the market” no longer applies only to physical goods.
It says something about humanity, but I don’t know what.
Now would be a good time to cut welfare benefits enough that more underclass look for jobs.
Indeed. Mt first thought was "they just CAN'T report good news without a negative spin."
The solution is obvious - we need to import more low-wage third world workers!
The remaining AMERICAN unemployed can be basically unskilled with the basics, rather lazy lacking work ethic,think many jobs are beneath them or can’t pass drug screen.
When I have a ham, I easily have 2 meals and multiple sandwiches or ham/cheese omelets. When I have an equivalent check, I have one opportunity to spend the money as I please. For me, the ham gives a better return.
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