The July 2019 NABE (National Association for Business Economics) Business Conditions Survey reports that firms continue to hire workers, showing a slight gain in hiring in the second quarter over the first, but challenges remain. While the number of employers reporting skilled labor shortages declined for the first time since October 2018, high skill positions remain the most difficult to staff.
According to NABE, 89% of respondents with hiring difficulties report difficulty staffing high-skill positions, up from 78% in April. Raising wages remains the most common action to address staffing difficulty, cited by 42% of respondents.
The report also notes the impacts of tariffs.
“After more than a year since the U.S. first imposed new tariffs on its trading partners in 2018, higher tariffs are disrupting business conditions, especially in the goods-producing sector,” says NABE President Constance Hunter, CBE, chief economist, KPMG. “The majority of respondents from that sector, 76%, indicates that tariffs have had negative impacts on business conditions at their firms.”
For the entire report, visit: www.nabe.com
