The Looming Crisis: America's Skilled Tradesmen Shortage & Its Impact
Many facets of the U.S. economy have made incremental improvements over the last two years, but one major concern, a skilled tradesmen shortage, is not going away anytime soon.
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Many facets of the U.S. economy have made incremental improvements over the last two years, but one major concern, a skilled tradesmen shortage, is not going away anytime soon.
Every business experiences periods of heightened activity – peak seasons that bring a surge in demand for your products or services.
“It’s very common for companies to experience fluctuations in business and revenue, busy times, and slow times – and this can often be based on the seasons or weather. For instance, retail businesses can experience as much as a 15 percent increase in sales the month of December and then fall to 30 percent below average after the holidays,” writes Kathy Bradshaw in CityScope magazine.
Labor shortages over the past two years have forced companies to rely on temporary staff to address seasonal demands, special projects, or unexpected surges in workload.
In today's fast-paced business landscape, flexibility is a key component of success. As industries evolve and adapt to changing demands, the need for a dynamic and agile workforce becomes increasingly apparent.
Small and medium-sized business owners often struggle with the right balance of short- and long-term staffing needs, especially during peak periods such as the holiday season, but it is a year-round issue for employers to tackle.
Many companies are finding the direct hiring process beneficial to finding talent in today’s competitive job market.
In today’s workplace, you often hear the terms “temp worker” and “contract worker” used interchangeably, leading to confusion among both employers and employees.
Understanding the differences between these two types of employment arrangements is crucial for fostering a healthy work environment, maintaining legal compliance, and ensuring fair treatment for workers.
The U.S. economy shed more than a quarter of million jobs in the first quarter of 2023 led by more than 100,000 tech sector layoffs. On the other hand, the broader job market remains resilient and historically tight.
Forget the headlines, job recruiters and companies are finding skilled labor still hard to find in 2023.
“Ever since April of last year, I’ve seen an explosion in headlines about layoffs and warnings about the labor market being weaker than it appears … but these headlines don’t align with what I, as a recruiter, am experiencing on the ground or even official labor market statistics,” writes Atta Tarki in Harvard Business Review on Jan. 30, 2023. “In fact, the economy in early 2023 is not being roiled by layoffs — which are currently abnormally low compared to historical standards. This means the labor market remains really tight, despite arguments to the contrary.”
While “White Collar” layoffs dominate the headlines in 2023, businesses are still facing a shortage of skilled workers and other “blue collar” applicants to fill open jobs.