We Have a Shortage of Workers
Is it true that the unemployment rate being too low can be a problem? Actually, I feel that the economy is sensing that situation right now.
The government reported Friday morning (May 4) that the current unemployment rate in the United States has ticked down to 3.9 percent. that's an extremely low number.
That simply means that almost everybody that wants to work, is employed. Thus, hardly a person is out looking for a job.
Is that great? Not if you're an employer needing help. Maybe you want to expand your business, but can't do it without more employees.
Maybe you are having trouble meeting your customer's needs and need more people. These are a few of the challenges business people are facing.
Companies are really seeking millennials. However, they are the hardest to get. They are people who believe in having independence and choice. They are geared toward making a living without having to answer to "The Man".
Companies are offering huge perks to attract workers. Even cash signing bonuses.
For example, BNSF railway is offering something rare in blue-collar America: signing bonuses up to $25,000 for hourly workers, including electricians, boilermakers and pipefitters.