By Ruth Simon WSJ Sun., May 12, 2019 Job growth at the smallest businesses has fallen to the lowest levels in nearly eight years as tiny companies struggle to attract and retain workers in the tightest U.S. job market in half a century. The number of people employed by companies with fewer than 20 workers grew by less than 1% in both March and April, compared with the same months a year earlier, according to an analysis by Moody’s Analytics for The Wall Street Journal. Hiring at the smallest businesses hasn’t been this low since May 2011, when the economy was still recovering from the financial crisis. Torque Transmission, a manufacturer with 18 employees in Fairport Harbor, Ohio, has struggled in the past 2½ years to maintain a staff of three skilled machinists. “We have posted ads online. We have a sign out on the front lawn. We have a couple of temp agencies working on it,” said John W. Rampe, president of the family-run business. Mr. … [Read more...] about Small Businesses Are Squeezed by Tight Labor Market
Tight job market
The tighter the labor market gets, the less force that argument carries. Some companies like JetBlue still require some kind of no-quit commitment from staff who participate in college programs. Others don’t. If employees gain a degree, “they can use that at Walmart, hopefully,” said Drew Holler, senior vice president at the retailer. “Or they can go use that somewhere else.’’ … [Read more...] about In a tight jobs market, employers spend more time training their low-paid staff
Colorado’s unemployment remains low. The labor market remains tight. A lack of enough skilled workers to fill spots could be a drag on the economy. And Colorado’s over-65 population is the third-fastest-growing in the nation. Janine Vanderburg will say challenges associated with the first three situations can be addressed in a significant way by the fourth. Armed with reams of research, personal stories of people across the state and backing from the Rose Community Foundation and other partners, Vanderburg is heading the initiative “Changing the Narrative,” whose goal is to change perceptions about older adults. Last year, Vanderburg, a community organizer, lawyer and a consultant to nonprofits, organized 42 workshops statewide for about 1,300 people on confronting ageism. Part of the discussion refers to research on language seen as fueling stereotypes: “senior citizens,” “elderly” and “silver tsunami,” a reference to … [Read more...] about Combating ageism in Colorado, initiative promotes older workers as way to address state’s tight labor market
By Paul Kiernan WSJ Sat., Feb. 23, 2019 WASHINGTON—With U.S. unemployment near lows seen a half-century ago and labor so scarce that companies routinely complain of shortages, you might think American workers, with more bargaining power, are getting a bigger slice of the nation’s economic pie. They’re not. Labor’s share of domestic income has been declining since 1970 and has barely recovered in this expansion from lows last seen when the U.S. was pulling out of the Great Depression. Employee pay and benefits as a percentage of gross domestic income fell to 52.7% in last year’s third quarter, for the fourth straight quarterly decline, according to data from the Bureau of Economic Analysis. It was as high as 59% in 1970 and 57% in 2001. If workers were commanding as much of domestic income as they did in 2001, they’d have nearly $800 billion more in their pockets, or $5,100 per employed American. While the labor … [Read more...] about Despite Tight Job Market, Labor Force’s Income Is Squeezed
You don't have to look very hard to see signs showing just how tight the local job market is. In fact, there are literally signs that say so. Help wanted signs outside companies from Lancaster manufacturer PCB Piezotronics and Valu Home Center hardware stores to discount grocer Aldi and local fast food chain Mighty Taco. You see it on billboards, where companies like Moog Inc. and Servotronics Inc. are touting their openings. And even in radio ads from companies like auto insurer GEICO. With unemployment at an 18-year low of 4.1 percent for December and the number of people without jobs at its lowest level for any December in more than 28 years, the hunt for workers is harder than ever for businesses, especially for positions that require more than entry-level skills. "This is the tightest market that I've been in – and I've been doing this for more than 30 years," said Paul Turevon, Moog's global head of talent acquisition. It is the "help wanted" signs that make this job market … [Read more...] about David Robinson: It’s the tightest job market of a generation, but are cracks starting to show?