Roaring Economy Highlights Tight Labor Market
Washington, D.C. (April 6, 2018) — Lower-than-expected job growth last month highlights a growing challenge for small business owners who are scrambling to find qualified workers to meet roaring consumer demand, said the Job Creators Network (JCN) today.
“This is a good problem to have, but it is a problem,” said JCN President and CEO Alfredo Ortiz.
The Department of Labor reported this morning that the economy created 103,000 new jobs in March, lower than analysts expected. The unemployment rate of 4.1 percent is the lowest in decades. The data—which comes from the Bureau of Labor Statistics—also shows that wages rose by 8 cents, a 2.7 percent year-over-year increase.
“Small business confidence is sky-high, because consumer demand is sky-high. The tax cuts have unleashed the economy,” said Ortiz. “However, those conditions expose a structural problem in the economy, which is a widening skills gap. We hear from small business owners every day how hard it is to find qualified labor. I think we’re seeing that in the numbers.”
Ortiz said Congress and the White House should remain focused on pro-growth policies, but that policymakers must also examine ways to encourage more skills training for workers.
“Instead of wasting time debating whether to repeal the tax cuts, which are undeniably successful, Congress should be focused on developing programs that give Americans the skills they need to get the higher-paying jobs that the economy is now producing,” he said.
JCN this year launched a nationwide campaign, Tax Cuts Work, aimed at educating voters on how the tax cuts have sparked small business and the economy. Today’s jobs report reinforces the message, said Ortiz.
Visit TaxCutsWork.com to learn more and see how the tax relief package is helping small businesses across the country. To learn more about Job Creators Network, please visit www.jobcreatorsnetwork.com.