Current struggles to hire and retain workers will continue into next year, according to a survey of 380 US and Canadian employers by Willis Towers Watson. The survey found 73% of employers are having difficulty attracting employees, up from a similar survey last year that found only 26% were having difficulty. It’s also up from 56% in a survey earlier this year. And 70% of
Federal Reserve Bank of Richmond (08/24/21) Mid-Atlantic manufacturing activity improved in August, according to the Federal Reserve Bank of Richmond. The composite index declined from 27 in July to 9 in August but remained in expansionary territory, as all three component indexes— shipments, new orders, and employment—decreased but remained positive. However, several manufacturers reported deteriorating local business conditions. Survey contacts also noted that lead times
U.S. wages are rising at the fastest pace in decades But risks to the worker boon are mounting as virus cases surge For the first time in decades, the American worker is finally in command when it comes time to talk money. There are tell-tale signs everywhere that this is so. Like the way some employers — such as Kroger Co., Chipotle Mexican Grill
CNBC (08/08/2021) Cox, Jeff Employers in the U.S. are facing the significant challenge of filling nearly 10 million job openings with a million fewer workers available than there are positions. The success in addressing this gap will greatly impact the sustainability of recent strong job gains. Despite approximately 8.7 million unemployed individuals actively seeking employment, there are an estimated 9.8 million job vacancies, indicating a
National Federation of Independent Business (08/05/21) Small business owners reported a record high reading of unfilled job openings, with 49% of owners reporting job openings they could not fill in July, according to a random sample of 10,000 small business owners by the National Federation of Independent Business. Unfilled job openings have remained far above the 48-year historical average of 22%. Overall, 61% of owners
Worker shortages will moderate this summer in the states where extra unemployment aid has been canceled, prodding unemployed people to get back into the job market. In Sept. the benefits will expire everywhere else, pushing more recipients to look for work. But note that wages are likely to stay high, especially for folks at the lower end of the pay scale. Employers will have an
