The U.S. faces a new problem. Too many jobs, not enough workers!
A new economic issue is rising in the US, and this time it’s a good problem!
In a report released Thursday, Moody’s Analytics and the ADP reported that employers are struggling to find qualified worked to fill the swelling 6,700,000 job openings in the US.
Jobs such as truck drivers are in high demand, and other blue-collar jobs across the Country are dealing with unskilled labor as the nation is approaching full employment.
Mark Zandi of Moody Analytics had this to say ”
“Business’ number one problem is finding qualified workers. At the current pace of job growth, if sustained, this problem is set to get much worse. These labor shortages will only intensify across all industries and company sizes.”
The Bureau of Labor Statistics reported that April had a staggering 6.7 million job openings, 700k more people than they report are unemployed.
The Midwest leads the country with a 4.8% rate of total employment and available jobs.
The Labor department had this to say
“Never before have we had an economy where the number of open jobs exceeds the number of job seekers, this administration is committed to ensuring that all Americans have the necessary skills to access good, family-sustaining jobs.”
While Labor department documents only go back to 2000, at least one analyst claims the last time this issue arose was in the 1970’s.
Economists predict that employment incentives will become a necessity and will likely result in pay raises and job training.