Broker Check

The Real Supply Chain Issue Is You and Me

| December 03, 2021

Supply chains are stretched as unfilled job openings continue to increase

There are over 30 million small businesses in the United States, according to the Small Business Administration and small businesses comprise about 99% of all U.S. businesses.

Further, about half of all Americans (48%) are employed by small businesses, meaning almost 60 million employees in the U.S. work for a smaller company. Unfortunately, small businesses are finding it increasingly difficult to hire workers as 49% of all owners reported job openings they could not fill.

And the number of unfilled job openings far exceeds the 48-year historical average of 22%.

The Real Supply Chain Issue

Here is a breakdown of what businesses need:

  • 42% have openings for skilled workers
  • 24% have openings for unskilled labor
  • 59% of the job openings in construction are for skilled workers
  • 65% of construction firms reported few or no qualified applicants

The Real Supply Chain Issue

Worse is that a staggering 94% of business owners that are hiring reported finding few or no qualified applicants, including 25% that could not find a single qualified applicant.

That is the real supply chain issue.