{"id":1482,"date":"2018-10-05T04:34:00","date_gmt":"2018-10-05T04:34:00","guid":{"rendered":"https:\/\/tomfarandasfolly.com\/?p=1482"},"modified":"2025-09-29T02:22:06","modified_gmt":"2025-09-29T02:22:06","slug":"a-record-month-for-salary-raises","status":"publish","type":"post","link":"https:\/\/tomfarandasfolly.com\/?p=1482","title":{"rendered":"A record month for salary raises – and unemployment rate lowest since 1969."},"content":{"rendered":"

\"Salary<\/a>
<\/strong><\/em><\/span><\/p>\n

UPDATE<\/span>: <\/strong><\/em>Unemployment rate lowest since 1969.<\/a><\/span><\/p>\n

Off the WSJ yesterday.<\/strong><\/em><\/span><\/a><\/p>\n

NFIB survey shows small firms raising compensation to attract and retain talent.<\/p>\n

Few Americans would say that they\u2019re actually sick of winning, but you can add one more positive report to the recent run of upbeat readings on the nation\u2019s economy. The latest monthly survey from the National Federation of Independent Business finds widespread raises as small firms try to attract and retain talent in a historically tight labor market.<\/p>\n

NFIB Chief Economist William Dunkelberg says that a record 37% of small businesses in September \u201creported raising overall compensation in hopes of hiring and retaining needed employees. There are more job openings than job seekers, and the compet ition for qualified workers is pushing up compensation, especially for the better trained and educated employees.\u201d<\/p>\n

\u201cJob creation picked up again in September, rising to a net addition of 0.15 workers per firm,\u201d adds Mr. Dunkelberg, who notes that the demand for workers is intense across a range of industries:<\/p>\n

Thirty-eight percent of all owners reported job openings they could not fill in the current period, unchanged from August\u2019s record high. Reports of job openings were most frequent in construction (56 percent, down 6 points), manufacturing (54 percent, up 7 points), transportation (51 percent), wholesale trades (44 percent), and retail (43 percent) wher e customers are showing up in large numbers. The lack of qualified applicants is nearing levels attained in the late 1990s when Y2K produced a surge in demand for computer and programming specialists.<\/p><\/blockquote>\n

As economic problems go, too many jobs available is of course a great one for qualified workers to have. So how do we get more people into the category of qualified workers?<\/p>\n

There\u2019s some encouraging news there as well. Mr. Dunkelberg says that NFIB research indicates that many unqualified potential employees don\u2019t necessarily need to embark on long and costly training programs to become eligible. He says that many employers cite \u201csocial skills, attitude and appearance as disqualifiers.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

UPDATE: Unemployment rate lowest since 1969. Off the WSJ yesterday. NFIB survey shows small firms raising compensation to attract and retain talent. Few Americans would say that they\u2019re actually sick of winning, but you can add one more positive report to the recent run of upbeat readings on the nation\u2019s economy. The latest monthly survey […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1482","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/1482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1482"}],"version-history":[{"count":1,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/1482\/revisions"}],"predecessor-version":[{"id":5343,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/1482\/revisions\/5343"}],"wp:attachment":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}