Can anything stop the great American jobs machine? Amid historically tight labor markets, trade concerns and slowing economic growth, U.S. small businesses still managed to accelerate their hiring last month. That’s according to the latest employment report from the National Federation of Independent Business, due out later today.
“Job creation jumped in November with an average addition of 0.29 workers per firm, the highest level since May,” reports NFIB Chief Economist William Dunkelberg. The November surge far exceeds October’s increase of just 0.12 additional workers per firm.
Mr. Dunkelberg notes, as usual in recent years, that finding all those new employees wasn’t easy. Among the small business owners participating in the survey, 26% reported that finding qualified workers was their top business problem, up one percentage point from the record high set in August.
Isn’t it nice to have an economy where the biggest headaches for proprietors of small businesses aren’t taxes or regulations, but finding enough people to service all the orders coming in the door?
Naturally, this situation also has a way of working out for the employees whose services are in historically high demand.
As for the headaches afflicting business owners, Mr. Dunkelberg elaborates:
Thirty-eight percent of all owners reported job openings they could not fill in the current period, up 4 points and 1 point below the record high last reached in July. Fifty percent had job openings in in transportation, and 48 percent in both construction and manufacturing. Cleary the inability to assemble work teams is a major contributor to the lackluster performance of the construction industry.
Perhaps there are people who don’t currently live in the United States but might be willing to come here to work.
As for the willing employees already in the U.S., market conditions are highly favorable, given that small firms remain eager to retain and attract workers. Says the NFIB economist:
A seasonally-adjusted net 21 percent plan to create new jobs, up 3 points... Attempting to fill open positions, historically high percentages of owners plan to raise worker compensation. Seasonally adjusted, 30 percent reported raising compensation (unchanged) and 26 percent plan to do so in the coming months, up 2 points and the highest level since December 1989.
Anytime you can reasonably compare U.S. economic data to the 1980s, you’re probably talking about a very good economy.
***
Follow James Freeman on Twitter.
Subscribe to the Best of the Web email with one click.
To suggest items, please email best@wsj.com.
(Teresa Vozzo helps compile Best of the Web.)
***
Mr. Freeman is the co-author of “Borrowed Time,” now available from HarperBusiness.
Copyright ©2019 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
"jobs" - Google News
December 06, 2019 at 12:35AM
https://ift.tt/2YkHKVI
Long U.S. Jobs Boom Gets Longer - The Wall Street Journal
"jobs" - Google News
https://ift.tt/36m99ub
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
No comments:
Post a Comment