As the US economy continues to recover steadily, executives worry that they will not be able to hire enough workers to take full advantage of it, even if unemployment benefits in some states are nearing completion.
These concerns are recorded in a new CNBC Global Chief Financial Officer Committee Investigation This was carried out from August 13th to 26th among 39 members, whose total value is US$5 trillion. In this group of CFOs, 95% believe that hiring employees is more difficult than before, no matter how much compensation or benefits the company can provide for new employees.
Among all CFOs, 84% agree with this view. Earlier this year, the same survey found that only 18% of CFOs said the same thing.
The labor shortage predates the pandemic, but it has sharply worsened due to the COVID-19 pandemic. As with other economic sectors during the recovery, the imbalance between supply and demand has been slow to return to normal. New data shows that the number of recruits has increased, but this may be workers eager to enter the job market.
Bigger feeling bargaining power It may also prompt workers to be more critical when choosing which companies to join. As the company hopes to provide higher wages and other incentives to fill the gap, workers are enjoying a bargaining position they have not had in a while.
Other reports, such as the Consumer Confidence Survey of the World Federation of Large Enterprises, indicate that close to 55% of those who think work is “sufficient” are still close to 55%, while those who say work is hard to get are about 12%.according to NBC Finance Channel, These figures are close to record highs, and more than twice the number of people who considered sufficient jobs at the end of the first quarter of 2021.
In the face of a hungry job market, the feeling of empowering workers comes at a time when the federal government’s unemployment benefits are being phased out during the pandemic. Some states led by Republican governors have cut these benefits early, believing that continuing these benefits will provide people with a reason not to work.However, the data shows that this The argument is waning Because in the states that maintained benefits and the states that cut benefits earlier, the number of recruits has been flat.
Concerns about COVID-19 Delta variants do not seem to prevent workers from finding jobs or employers offering jobs. The CNBC survey found that 68% of CFOs said that the delta variant of COVID-19 only changed their outlook “a little bit”, while 16% of all CFOs surveyed said it “has changed a lot.”
