A separate survey of small businesses by the National Federation of Independent Business found that 44% had jobs they couldn t fill, also a record high.
The NFIB and JOLTS “add to evidence from the April employment report that labor shortages are widespread, pushing up prices and potentially acting as a brake on the recovery,” said Michael Pearce, an economist at Capital Economics.
Job openings increased in the accommodation and food service sectors, with restaurants, bars and hotels leading the surge. There were an additional 155,000 job openings in state and local government education. Vacancies also increased in manufacturing, trade, transportation and utilities industries as well as in finance. But vacancies dropped in the healthcare and social assistance industry.
44% of Surveyed Small Businesses Can t Find Workers to Fill U.S. Jobs
On 5/11/21 at 1:24 PM EDT
A survey conducted by the National Federation of Independent Business shows a record high of small businesses are struggling to hire workers as the U.S. emerges from the COVID-19 pandemic and the economy expands.
The 44% of businesses that reported being unable to find enough workers reflects a recent U.S. jobs report, released Tuesday, that shows a record high of 8.1 million openings across the country.
While demand for labor increased, wages and benefits saw modest rises, according to the Labor Department report. An April jobs report, released last week, was far weaker than expected, mostly because employers are unable to find the workers they need, even with the unemployment rate elevated at 6.1 percent.
Gov. Bill Lee opts Tennessee out of $300 federal unemployment supplement, other programs Natalie Allison, Nashville Tennessean
Tennessee is withdrawing from a $300 weekly unemployment supplement program, a decision by Gov. Bill Lee that comes as many Republicans argue the additional funds allow low-wage workers to make more money while staying at home.
Lee informed the U.S. Department of Labor of the decision Tuesday, joining several other Southern states in refusing the additional payments for unemployed people. We will no longer participate in federal pandemic unemployment programs because Tennesseans have access to more than 250,000 jobs in our state,” Lee said in a statement about the decision. “Families, businesses and our economy thrive when we focus on meaningful employment and move on from short-term, federal fixes.
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US job openings soar to highest level on record
A hiring sign offers a $500 bonus outside a McDonalds restaurant, in Cranberry Township, Butler County, Pa., Wednesday, May 5, 2021. U.S. employers posted a record number of available jobs in March, starkly illustrating the desperation of businesses to hire more people as the economy expands. Yet total job gains increased only modestly that month, according to a Labor Department report issued Tuesday, May 11. (AP Photo/Keith Srakocic)