markets

We Just Got Another Sign of the Labor Market Getting Tighter

Wanted: Higher-quality labor

A Miner job application sits on a representatives table during the Choice Career Fair in San Antonio, Texas, U.S.

Photographer: Matthew Busch/Bloomberg

If you're on the lookout for signs of labor market tightness that could ultimately lead to higher wages, then here's something to pay attention to.

The latest small business optimism survey from the National Federation of Independent Business is out, and it shows that companies are having a harder and harder time filling jobs.

12 percent of companies say that "Quality of Labor" is their single most important problem, which is the highest proportion since the economic crisis.

More companies now identify labor quality as their biggest challenge than companies that identify poor sales as their most-pressing problem.

singlemostimportantproblem
Source: NFIB

On a related question, 44 percent of companies say they're seeing few or no qualified applicants for some job openings, which is up from 42 percent the month before.

qualifiedjob
Photographer: Weisenthal, Joe
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