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:
“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.
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.”‘