The great American worker shortage continues, but small firms managed to maintain their recent pace of job creation in October.
"Job creation held steady in October, with an average addition of 0.12 workers per firm," reports NFIB Chief Economist William Dunkelberg.
Mr. Dunkelberg says slower job growth is "No surprise as reports that"finding qualified workers" to fill job openings has been the number one business problem this year.
Finding qualified workers remains a top issue with 25 percent reporting this as their number one problem, 2 points below August's record high.
"A seasonally-adjusted net 18 percent plan to create new jobs, up 1 point," reports Mr. Dunkelberg.
Attempting to fill open positions, historically high percentages of owners reported raising worker compensation.
Labor shortages are significantly slowing growth in critical sectors... Fed policies to stimulate growth cannot overcome the fact that labor is not available to support more of it.
https://www.wsj.com/articles/america-is-still-hiring-11572536785?mod=hp_opin_pos_1
"Job creation held steady in October, with an average addition of 0.12 workers per firm," reports NFIB Chief Economist William Dunkelberg.
Mr. Dunkelberg says slower job growth is "No surprise as reports that"finding qualified workers" to fill job openings has been the number one business problem this year.
Finding qualified workers remains a top issue with 25 percent reporting this as their number one problem, 2 points below August's record high.
"A seasonally-adjusted net 18 percent plan to create new jobs, up 1 point," reports Mr. Dunkelberg.
Attempting to fill open positions, historically high percentages of owners reported raising worker compensation.
Labor shortages are significantly slowing growth in critical sectors... Fed policies to stimulate growth cannot overcome the fact that labor is not available to support more of it.
https://www.wsj.com/articles/america-is-still-hiring-11572536785?mod=hp_opin_pos_1
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