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Tightening Labor Market

The WSJ article “Jobs Return to (late 2007) Peak, but Quality Lags,” reports that the number of jobs in manufacturing, construction and government—typically well-paying fields—has shrunk, while lower-wage work grew. When adjusted for inflation, Americans’ earnings are little changed since the recovery started in mid-2009. Software firm FranConnect Inc. in Reston, Va., added 30 people, but still have multiple openings. According to Chief Executive Amit Pamecha, “A lack of qualified candidates is holding back hiring.” The firm has started recruiting college graduates with little technical experience in hopes of filling the void by offering training. “As business picks up, the labor market is just at the start of the point where it is tightening,” Mr. Pamecha said. “If there was a qualified candidate, would we pay more? Absolutely.”

Susan Phillips, CEO SelectLeaders
June 11, 2014

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