| | | Trump's worker shortage
Don Surber
Wednesday, August 15, 2018
donsurber.blogspot.com
On December 2. 2015, I knew Donald John Trump would kick the economy into high gear. That was the day New York magazine published, "President Trump Would Destroy the Economy." It was an attempted takedown of a billionaire by a thousandaire. Maybe. Depends on whether Annie Lowrey paid off her student loans
She wrote, "Trump would provide a gigantic flush of stimulus to the American economy, by way of a truly mammoth tax cut. But that stimulus would be entirely wiped out by the severe economic dislocations caused by his closing of the American economy to foreign goods — a policy decision that would kick off a global trade war. On top of that, the Donald is proposing radical changes to immigration and health policy, which might severely harm any number of big-employment, very-important industries. Fun! Way more fun than Hillary."
In President Trump's second year in office, the economy is doing so well that we are running out of workers.
The National Federation of Independent Business reported, "Small Businesses Unfilled Job Openings Reaches Record High."
There is a labor shortage.
"The tight labor market continues to be the biggest problem facing small businesses, with 37 percent of owners reporting job openings they could not fill in the current period, a new survey high. Up one point from June, 13 percent of owners reported using temporary workers to compete in the tight labor market," according to NFIB’s monthly jobs report.
Construction, manufacturing, and wholesale trades are hardest hit.
You know, the jobs that Obama said aren't coming back.
Despite this, small businesses -- which NFIB represents -- are expanding.
"The number of small businesses planning to create jobs across the country remains at record high levels in July, while owners added the largest number of workers in 12 years. A seasonally-adjusted net 23 percent are planning to create new jobs, up two points from June’s 21 percent. Owners added the largest number of workers per firm since 2006," NFIB reported.
To attract workers, they are improving wages and benefits.
"Small businesses report a net 32 percent of higher worker compensation, up one point from last month. Plans to raise compensation rose one point to a net 22 percent, two points below the peak of 24 percent in January of this year," NFIB reported.
The expansion of the economy is the best part of watching President Trump erase Obama's legacy.
(Surely you have heard the joke about Obama going to a Subaru dealership so he could have a Legacy that survives the Trump presidency.)
Lowrey got one thing right. Watching people get jobs and pay raises is way more fun than watching more people sign up for food stamps so they can buy potato chips with an EBT card. |
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