![]() While nearly all states face worker shortages, the data suggest that the challenge is particularly acute in several hard-hit states. That’s the lowest the ratio has been since the data started in 2000 and well below the 2.7 historical average. There is now fewer than one available worker for every open job across the country. The national Worker Shortage Index has fallen precipitously in recent months. More specifically, it compares (1) “available Workers” (persons who want a job and are available to work now) as reported in the monthly BLS Employment Situation Report household survey of individuals to (2) employers’ job openings as reported in the BLS Job Openings and Labor Turnover Survey (JOLTS). The Worker Shortage Index (WSI) measures the number of available workers divided by job openings. Clearly, businesses are hiring – if only there were workers ready, able, and willing to fill their open positions. In 2021, employers added 3.8 million job openings. Another could be that employees know just how easy it is to get a new job – the percent and level of workers quitting their jobs are at all-time highs and have been for months.īLS also reported 10.6 million job openings in the economy as of the end of November – near the 11 million all-time high set in July. Even with 6.4 million unemployed at the beginning of December, Americans’ reluctance to return to work and fill open positions was one reason for the lackluster job creation. In December, the Bureau of Labor Statistics (BLS) jobs report fell well below expectations.īusinesses only created 199,000 jobs when most analysts expected closer to 500,000. Almost all industry association economists say employers in their sectors struggle to find qualified workers for open jobs.ĥ Reasons People Are Changing Careers More Than Ever Before And the ratio continues to fall.ĩ4 percent of state and local chambers say businesses in their area are finding it difficult or very difficult to find workers. The historical average, for context, is 2.7. This is the lowest the ratio has ever been, and it has only been less than one seven times since 2000, and five of those times were the last five months. ![]() There are fewer than one available worker for every job opening (0.76 available workers/opening). ![]() Employers added an astounding 3.8 million job openings in 2021. There were 10.6 million vacant job openings in the United States-a record high-at the end of November 2021, the latest month for which data is available. The latest data and surveys reveal a national economic crisis that is getting steadily worse. When businesses do not have enough employees, they are forced to turn down work, reduce hours, scale back their operations, and in the worst cases, permanently close. The most critical and widespread challenge facing businesses is the inability to hire qualified workers for open jobs they need to fill. By analyzing more than two decades worth of federal jobs and employment data and conducting surveys of top industry association economists and state and local chamber leaders across the country, we examined the current state of the American workforce and the monumental challenges employers are facing across the country. We hear every day from our member companies-of every size and industry, across nearly every state-as we move into 2022, they’re still facing unprecedented challenges trying to find enough workers to fill open jobs.īut just how widespread is this problem? And how do we begin to address this national economic crisis and put more Americans back to work? ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |