“Survey: US business hiring hits 7-year low…”
October 29, 2019
“A measure of hiring by U.S. companies has fallen to a seven-year low and fewer employers are raising pay, a business survey found… The hiring slowdown comes as more businesses are reporting slower growth of sales and profits…
Hiring may also be slowing because the unemployment rate is at a 50-year low of 3.5%, and many companies are struggling to find enough workers. The survey found that 43% of companies reported shortages of skilled workers, though that figure has declined for three straight surveys. Government data shows that companies are posting fewer available jobs, suggesting that demand for labor is weakening, as well as supply.”