Small and Mid-size Businesses Face Economic Recovery Challenges

BOSTON–(BUSINESS WIRE)–Some economists say that the U.S. economy is experiencing an unprecedented labor shortage and particularly impacting small and mid-size businesses as they work toward their recovery. Temporary workers are being scooped up, and the agencies are charging a premium; finding direct labor employees is almost impossible. Large Fortune 100 companies that are well-capitalized are paying higher rates of pay to entry-level, unskilled workers as well as sign-on bonuses: making it difficult for middle-market companies to compete.

New England Consulting Partners (NECP) Managing Partner, Tom Desmond is concerned about small and middle-market companies. “Recently, I tried to book a room in a hotel where I normally stay in a large metropolitan area and could not get one because the hotel did not have enough help to clean the vacant rooms. These labor shortages do not seem to be caused by natural market conditions and are…

Read more…