Unemployment Is So Low That States Are Now Competing For Workers

The economy is humming along and work has become so plentiful that workers are in demand. States are even finding themselves in the uncommon position of having to do things to attract workers.

The Hill reports:

States battle for workers amid low unemployment

When Wisconsin officials pitched the Taiwanese manufacturer Foxconn on building a mammoth new factory in their state, they promised billions in tax breaks and other economic incentives, as well as infrastructure to accommodate the facility.

Now, as the company prepares to break ground on the plant in Mount Pleasant later this month, Wisconsin is scrambling for one more essential ingredient: Highly trained workers to staff the new production lines.

In the years after the Great Recession, a booming economy has sent the unemployment rate to its lowest in decades. Wisconsin, where it stands at just 2.8 percent, is one of 14 states that have set new record lows for unemployment since President Trump was inaugurated.

There are now more job openings in the United States than there are jobless workers, the Labor Department said this week.

The improving economy has unsettled a balance of power in the years during the recovery that clearly favored businesses over employees. States raced to offer creative incentive packages, some worth billions of dollars, in hopes of luring new businesses within their borders.

This is an excellent problem to have!

To Top