Survey shows growing U.S. skilled labor shortage

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U.S. employers are finding it increasingly difficult to find skilled workers, according to a survey published Monday, suggesting upward pressure on wage growth down the road, Reuters reported.

 

The National Association for Business Economics’ latest business conditions survey found that 35 percent of the 112 economists who participated reported their firms had seen shortages of skilled labor during the quarter ending in July. That compared with only 25 percent in the April survey and marked a sharp increase from 22 percent during the July quarter last year.

 

“The panel reports markedly increased shortages in the July survey, especially of skilled labor,” said survey Chairman Jim Diffley, who is also a senior director at IHS Economics.

 

The survey also found the share of companies anticipating wage increases in the next three months grew to 49 percent, from 46 percent in the April poll and 35 percent a year ago.

 

The NABE survey is the latest to suggest a tightening labor market. Early in July, the National Federation of Independent Business said that 44 percent of small businesses looking to hire reported few or no qualified applicants for positions they were trying to fill.