Labor Market at Tightest This Century Featured

By Staff Writer July 08, 2018

Good help is getting really hard to find.

Private sector small business employment increased by 29,000 jobs from May to June according to the June ADP Small Business Report. But it could have grown even more with more qualified applicants.

The National Federation of Independent Businesses’ monthly jobs report shows 63 percent of owners reported hiring or trying to hire. This is the highest level since September 1999.

Twenty-one percent of owners cited the difficulty of finding qualified workers as their Single Most Important Business Problem, only three points below the survey record. Thirty-six percent of all owners reported job openings they could not fill in the current period, matching the survey record high set in November 2000.  

To compete in the tight labor market, a net 31 percent of owners reported raising compensation, marking the sixth straight month it has been 30 percent (net) or higher.

Last modified on Sunday, 08 July 2018 23:48