There is work, but there are no people: companies cannot find employees

Last month, employment in the private sector grew at a disappointing pace, as companies struggled to find enough new employees, writes CNBC with reference to ADP and Moody's Analytics.

Фото: Depositphotos

The number of jobs increased by 177 thousand, while economists surveyed by Thomson Reuters expected an increase in 190 thousand. In June, the number of jobs also increased by less than 200 thousands.

“Business' number one problem is finding skilled workers. At the current rate of job growth, if things continue this way, this problem will get worse. Labor shortages will only worsen across all industries,” said Mark Zandi, chief economist at Moody's Analytics.

Medium-sized businesses added 80 thousand jobs in June, large enterprises added 69 thousand, and small businesses added 29 thousand.

148 has added thousands of jobs in the service sector, 46 thousands in the education and healthcare sectors, 29 thousands in the production of goods, thousands in the information technology sector.

Experts fear that a tight labor market may put pressure on wages, which will lead to a surge in inflation, and the Federal Reserve will have to raise rates faster than the market expects.

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