The help wanted signs are all over. Help wanted ads fill the classified sections of newspapers. The unemployment rate is at an 18-year low at 3.8 percent. There is a severe worker shortage.
There are many work options. In just about every field of endeaver, there are openings. Companies simply can’t find enough workers. Many of the jobless people don’t want to work and others lack skills for most jobs.
The Associated Press reported that U.S. employers filled 223,000 jobs in May. Many of those jobs are seasonal. Pay growth remains below levels that are typical when the unemployment rate is this low.
The Labor Department report shows that the nearly 9-year-old economic expansion — the second longest on record — remains on track.
The job market also is benefiting a wider range of Americans; the unemployment rate for high school graduates has reached 3.9 percent, a 17-year low. For black Americans, it hit a record low of 5.9 percent.
The economy was slow in the first three months of this year but has rebounded. There are economists who believe that President Trump’s aggressive approach on trade could hamper growth. The president has been aggressive on tariffs, or threats of tariffs, but it hasn’t hurt hiring by businesses and industries.
The lack of skilled workers has delayed some work, such as in construction. Trade schools are trying to lure more young people into their programs with some success.
We have heard reports that this nation can’t have a complete economic recovery until we have more skilled labor available.
The problem most companies have is higher operating costs, and the need for more revenue to meet the high costs.