A tight labor market is holding small businesses back from expanding in this hot economy

CNBC and SurveyMonkey's latest small business optimism index echoes that sentiment, finding 52% of small businesses say it's harder to find workers today than it was a year ago.

"We are in manufacturing country and manufacturers are expanding their wages to attract workers in our area—it continues to be a challenge as we try to retain and recruit new talent, especially for our catering arm," Rammel says. "The economy has been very hot lately and that means there are opportunities elsewhere."

Adam Rammel is looking to incentivize new workers as he expands his business in a historically-tight labor market.Kristin Ledgerwood is experiencing the same competitive crunch as she looks to grow her specialty bakery, Vivian's Gourmet. The shop is located in Evergreen, Colorado some 45 minutes outside of Denver, which puts her at a disadvantage for recruiting. She has three employees and hopes to bring on two more in the future, offering vacation time and small pay increases when she can.

And that's why businesses like Michael Canty's Alloy Bellows Precision & Welding is focusing on retaining the workers it has on board. The Highland Heights, Ohio-based company makes industrial bellows for oil and gas drilling, and has some 120 employees between its two facilities. Canty says he pays on average $21 an hour and offers benefits including medical and dental, along with disability and a 401k program.

I’m not surprised

So Mrs. Yellen was absolutely right with all her rate hikes, and the current Fed President listens too much to Trump.

FakeNews

Tight labor market = higher wages!

The Biggest threat to american business is the foolish policies put in place by Obama! Don’t be deceived by MainStreamMedia !!! Truths

But but but... I thought this was suppose to drive up wages?

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