I have been saying for years the best way to raise Americans wages is by removing unneeded regulation barriers that President Obama put in the way of American businesses, this removal along with the President Trump and the Republicans in Congress tax reform would help create a great economy.

Well now the proof is in and I was correct along.

report from ADP and Moody’s Analytics released yesterday stated that America’s labor shortage is approaching “epidemic” proportions.  Due to this guess who will be offered more money to stay with their companies and more money to attract new employees?

That would be YOU!

CNBC is reporting that:

  • Private payrolls grew less than expected in June, likely due not just to a slowdown in hiring but also a decline in the labor pool.
  • For the first time, there are more job openings than there are eligible workers to fill them.
  • Economists expect wage pressures to continue building as part of increasing inflation.

In a second article by CNBC they reported that “private payrolls miss expectations as companies can't find enough people to hire” and due to this jobs in the United States grew by only 177,000 in June.  Economists polled by Thomson Reuters expected a gain of 190,000.  They did not reach the 190,000 mark because of lack of enough qualified people to hire.

Allow data, past history and common sense to drive your opinions and you will look a lot smarter in the future.

The Live with Renk show airs Monday through Friday 9 a.m. to noon, to let me know your thoughts call (269) 441-9595