The Question:
Which of these most closely describes your current employment picture?

3% - We’re hiring and having no problem finding qualified candidates.

24% - We need to add employees, but cannot find qualified candidates.

30% - We’re using technology as much as possible to limit payroll.

43% - We’re not hiring because we’re not growing.

My Comments:
The current unemployment rate is the same as it was when President Obama took office in 2009, 7.8%. But that’s what’s called the U-3 rate, which does not include those who are underemployed, have given up looking for work or those who have converted permanently to welfare or disability. But, based on the U-6 rate, which includes the groups just mentioned, the real unemployment condition in the U.S. is much worse today at 14.4%, or over 20 million Americans.

One of the reasons for a stubborn, if not worsening unemployment condition can be found in the responses from small business owners to the question we asked on our website last week: “Which of these most closely describes your current employment picture?” Here’s what we learned:

Only 3% of our respondents said, “We’re hiring and having no problem finding qualified candidates.” Unfortunately, from here on it gets worse. Almost one-fourth of our folks reported “We need to add employees, but cannot find qualified candidates,” a few more, 30%, told us, “We’re using technology as much as possible to limit payroll,” and the rest, the big number, 43%, allowed “We’re not hiring because we’re not growing.”

Allow me to put these poll responses in an economic recovery perspective: The sector that produces over half of the U.S. gross domestic product and signs over 70 million paychecks every week (over half of all private employees), are reporting at a combined rate of 93% that, for one reason or another, they are not hiring new employees.

If you happen to be talking to the President, and if he happens to lament high unemployment and the lackluster economic recovery, show him this survey and suggest that he spend a little more time talking to folks on Main Street.

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This week on The Small Business Advocate Show I talked more about this poll and some of the other reasons why unemployment is remaining so high. Click here to download or listen.