36% Of US Businesses Had Unfilled Jobs In June, Tied For Highest Amount Since 1973

AICC, through its membership in the Council of Manufacturing Associations, is pleased to present the "Manufacturing Economic Daily Newsletter” from the NATIONAL ASSOCIATION OF MANUFACTURERS (NAM).

Bloomberg News (7/5, Kearns) writes that a report from the National Federation of Independent Businesses (NFIB), released Thursday, shows that “the share of US firms with open positions rose to 36 percent in June, matching November 2000 as the highest in monthly records back to 1973,” while, “twenty-one percent of small-business owners said finding qualified workers was their biggest problem, also near a record level, according to the group’s survey of member firms through June 29.” According to Bloomberg, “Hiring qualified people in a tightening labor market is getting to be an even bigger headache for smaller US companies, who’ve been fattening paychecks to lure skilled workers.” The article quotes the NFIB report on the economic impact of the lack of skilled workers, saying, “The availability of qualified workers is impeding the growth in employment. Absent significant increases in the size of the labor force through a higher participation rate, owners will increasingly be pirating workers from other firms rather than new entrants in the labor force. There will also be compromises in qualifications and more resources invested in training, both new employees and existing workers.”