Job openings remain very high: in June, 29% of firms reported positions that they were unable to fill. Almost half of firms said they have few or no qualified applicants.
AbstractSmall firms remain guarded in their outlook. Many continue to encounter difficulty hiring qualified workers, and have been increasing compensation faster than they had planned. Also, not surprisingly after payroll job growth slowed to virtually nil in May, JOLTS data also suffered (though it is based on a different survey). Still, the key JOLTS indicators remained within the narrow, healthy range of the past few years. Overall, today’s data underscore FMI’s conclusions in the wake of the June payroll rebound: labor market trends have moderated to still-healthy and, we believe, sustainable pace.