Biden s economic dreams get boost from corporate spending spree politico.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from politico.com Daily Mail and Mail on Sunday newspapers.
Alexi Rosenfeld/Getty Images
A Goldman Sachs report found the labor shortage will cause wages to increase by 3% in the near term.
This increase is likely due to too-generous unemployment benefits and fears of returning to work.
Goldman predicts labor supply and wages will return to normal by the fall as the pandemic eases.
Last week s jobs report was much weaker than expected, adding only 266,000 jobs to the market when economists predicted 1 million. This was accompanied by stronger-than-expected wage growth in a labor market that is unexpectedly tight, which Goldman Sachs attributes to generous unemployment benefits and concerns returning to work.
»
A record 44% of small businesses struggled to hire workers in April, and more than a third raised prices, study finds
A record 44% of small businesses struggled to hire workers in April, and more than a third raised prices, study finds
Ayelet SheffeyMay 12, 2021, 01:34 IST
A Help wanted sign is seen in the window of a bakery in Ottawa.Reuters
The National Federation of Independent Business found a record 44% of
small businesses have openings they can t fill.
Also, 36% of owners reported raising their selling prices - the highest reading since 1981.
Experts say some workers in service industries might never return to the pre-COVID
Small businesses are no exception.
The National Federation of Independent Business (NFIB), the nation s largest small business association, released a report on Tuesday that found that while small business optimism increased by 1.6 points since March, a record 44% of owners reported job openings that could not be filled in April. Also, 36% of owners reported raising their selling prices the highest reading since 1981. Small business owners are seeing a growth in sales but are stunted by not having enough workers, NFIB Chief Economist Bill Dunkelberg said in a statement. Finding qualified employees remains the biggest challenge for small businesses and is slowing economic growth. Owners are raising compensation, offering bonuses and benefits to attract the right employees.
May 9, 2021
JANESVILLE
Rock County could purchase Camp Indian Trails and turn it into a county park with camping for youth groups.
A detailed report that lays out the idea is on the agenda of the county boardâs Public Works Committee meeting scheduled for Tuesday.
The report suggests the purchase cost could be between $1.2 million and $1.6 million.
Committee Chairperson Rick Richard said the county is expecting around $31 million from the federal American Rescue Plan legislation, and it appears some of that money could help with the purchase.
âThe opportunity for the county to acquire 180 wooded and recreational acres on the Rock River and open it as a park to county citizens comes along once in a lifetime, and Iâm hearing support for the purchase from most people Iâve talked with in the county,â Richard said.