Why Is it Hard for Employers to Fill Positions?

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June 5 (Bloomberg) -- Jeffrey Joerres, executive chairman at Manpowergroup discusses the state of the U.S. labor market and the company’s report on employers facing difficulties in finding qualified workers. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”

Research and manpower in the last 90 days?

Two things.

Where are the job shortages and what is going on, that is critical as ever.

On top of what we are seeing in the lack of participation in the labor market and employment coming down, you would start to think it would be wage inflation, and we will talk about this in a few seconds, but we are not quite seeing that yet.

We are getting mixed signals in the market.

At the same time, we are not seeing the wage inflation.

What will it take to see wage inflation?

You have to look at what is happening with a true growth perspective.

We are seeing a lumpy gdp, and that is what is causing the employers to say, you know what, i am going to be very cautious.

No anticipatory hiring but solid plans.

But they keep trying to stretch them out.

Until we get that gdp growth, we will not see wage inflation.

The mobility of labor, parsing of labor -- are we one america, or is there a subset that manpower works so much that some are doing better but others are still struggling?

It is subsets all the way.

When you look at this the -- at the labor statistics number, they have a table on hourly average earnings.

Those are significantly different by subsets.

John, i am intrigued by the conclusion of your report that manpower.com -- top five reasons u.s. employers are having difficulty filling open positions -- number one is lack of technical competency.

47%. how do companies deal with that?

It is very challenging.

You are seeing in the top 10 toughest jobs, the skills of engineers come it is competence.

Companies are in a conundrum about how much of the training do they put forward are there is a theory that says if companies were training more they would be able to bring those people into the workforce, but the margins are thinner.

Companies are putting more money into training, but they are asking for more ready kinds of people and the market is not delivering that to them.

John, how do we deal with that?

Well, what is the market?

Are we talking about college education, technical institutes?

The other issue is i know a lot of german companies in the united states try to get young people as technicians working as an apprenticeship in a journeyman program over time.

Maybe colleges and technical institutes can respond better to what the market needs, but also companies themselves can bring people in.

Jeffrey joerres, thank you.

He is in milwaukee.

And john silvia, thank you for joining us today, with wells fargo.

You will continue with us for the next hour, jonathan ferro?

I am excited.

Let's do a big forex report for you now, showing that before this meeting, the eurodollar,

This text has been automatically generated. It may not be 100% accurate.


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