On the Demand for Quality Labor

Niklas Blanchard at Modeled Behavior has the money chart:

The report from the Small Business Economic Trends shows that business concerns about the quality of labor is at an all-time low. Putting emphasis on education, training and human capital is a good idea for the medium and long term, but for this particular moment it looks like it would do nothing.

Everyone has already talked about this graph; I wanted to get the actual raw data and play around historically with it but I was unsuccessful. Doing some investigating here are some press releases from the year 2000, when “labor quality” concerns were at an all time high:

January, 2000:

“TAXES” finished the decade rated as “THE MOST IMPORTANT PROBLEM FACING YOUR BUSINESS TODAY.” “TAXES” garnered 24 percent of the vote. “QUALITY OF LABOR,” finished a very close second with 23 percent of the vote.

June, 2000:

Finding workers continues to be a major problem for firms as the incidence of job openings reached record highs in May and the number of firms complaining about the availability of qualified labor reached a new survey record….

Twenty-four (24) percent of all firms reported that finding qualified labor was the single most important problem faced by their firm today. Thirty-four (34) percent of firms, reported “hard to fill” job openings. Twenty-nine (29) percent of firms reported “hard to fill” job openings for skilled workers and 14 percent reported unskilled positions that are “hard to fill.”‘

The year 2000 featured some of the lowest underemployment and involuntary part-time work of the post-1980 period, while 2010 represents some of the highest of the entire post-War period:

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One Response to On the Demand for Quality Labor

  1. Pingback: America Is Not ‘Broke’ – Vile Maxim

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