June 17, 2021
Economy

Small and Mid-size Businesses Face Economic Recovery Challenges

BOSTON–()–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…

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