Employers in Wisconsin and northern Illinois are feeling the impact of a tightening labor market, according to a new report.
In it latest Employment Forecast Survey, Brookfield-based QPS Companies Inc. found that 31 percent of the companies surveyed believe that the biggest issue that will impact them in the second quarter is the lack of qualified or reliable employees. Labor and material costs were second and third, with 19 percent and 15 percent, respectively. Other issues were overseas competition, time constrains, insurance costs and technology changes.
QPS surveyed more than 200 companies, including manufacturers, banks, printers, distributors and information technology firms throughout Wisconsin and northern Illinois.
According to the survey, 52 percent of the employers anticipate increasing staff in the second quarter. Four percent reported decreasing staff and 45 percent reported anticipating no change.
When asked about wages in the second quarter, 52 percent of responders reported an increase, 1 percent reported a decrease and 48 percent expect wages to remain the same.
The survey also asked if companies thought that they were staying on target with their 2007 goals. In response, 65 percent of the companies believe that they are on target, 4 percent say they are not on target and 30 percent found it hard to say.
For a more in-depth report about the impact of the labor shortage caused by the aging of the baby boom generation, read the cover story of the most recent issue of Small Business Times.
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