According to the reports, the number of job vacancies in the Midwestern states exceeded the number of unemployed for the first time. But in recent months, this phenomenon has spread to other parts of the United States, especially the South. The US Department of Labor will release the latest job vacancies from the beginning of January 8. Previously,check here data released last week showed that employment growth rose sharply in December.
Economists say the most convincing sign that labor shortages have emerged is the surge of wages. The average hourly wage in December rose by 3.2%, measured by historical standards, which is tepid. Although those who are not actively looking for work are not included in the number of unemployed people, in any case, the increase in employment opportunities and the drop in unemployment have made the US labor market more tense. Ryan Sweet, an economist who tracks the regional economy at Moody’s Analytics, said: “If this situation continues for a few more years, then of course we will face a labor shortage.”check here
In some places, labor shortages already exist.
Brian Cooksey, head of human development at Shaw Industries, based in Dalton, says the company’s development is so rapid that finds talented people become a “challenging” thing.
The flooring company is part of the Berkshire Hathaway group of billionaire Warren Buffett, who is currently funding local high school and even middle school projects to attract students to the future. The interest in the high-tech manufacturing industry that Shaw Industrial Company specializes in is of interest. In October 2018, there were 7.1 million vacancies in the United States, one million more than the unemployed. This gap is the largest in the Midwest, with 463,000 more vacancies than unemployed workers. In the south, check here the gap is 317,000. There are 77,000 and 51,000 in the west and northeast respectively. Since July last year, there have been too many job vacancies in all four regions.
Sweet said that although there is no industry data by region, the recent surge in employment in the southern region is likely to be due to good performance in industries such as retail and construction. In other places, the situation is completely different. Auto parts supplier Lear Corp held a job fair, recruiting 400 workers for the new factory, and about 3,000 people applied for it. Strong demand for US factory products in 2017 may help boost job creation in the Midwest, and the global economic slowdown and trade frictions may hit factories in the region this year, thereby curbing job growth.
Fed policymakers said they will slow down the long-term gradual rate hike plan to prevent the economy from overheating. Fed policymakers don’t know how much the impact of the global economic slowdown on the US labor market. Since the financial crisis in 2008, the unemployment rate in the United States has shown a downward trend. Last Friday’s data showed that the unemployment rate was close to the lowest point of 39% in 49 years due to labor growth.