As the unemployment rate continues to decrease (5.3 percent in June), employers report finding it more difficult to recruit high-quality workers to hire.
Small businesses are particularly challenged by this trend, since they don't have the same resources as larger businesses do in terms of recruiting departments, the ability to offer wages and benefits packages that are attractive enough, and/or training programs to bring unskilled or under-skilled applicants up to required qualifications.
"Many smaller enterprises simply don't have the resources they need to find the best, most qualified candidates," said Holly Wade, director of research and policy analysis at the National Federation of Independent Business (NFIB). "In these businesses, there are generally no human resources departments that can dedicate themselves to hunting out candidates."
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