Small businesses having tough time keeping skilled workersU.S. unemployment rate rose to 4.5% in November 2006. The states with the lowest unemployment was
Hawaii and Utah. Utah's unemployment rate was 2.5%. It was the lowest recorded in state history and the lowest in the continental U.S. According to the Deseret News: More than 50,000 jobs were created in Utah in 2006 — more than in any previous year.
"Companies are going to be pulling their hair out to attract new skilled people, and small employers are very stressed in maintaining their talented people," said Jeff Thredgold, president of Salt Lake-based Thredgold Economic Associates and an economic consultant to Zions Bank."
Small business often rely on a small staff and may not have the benefits and salary packages available to those employed in larger businesses.
The labor force is slowing, mostly due to baby boomers retiring. The good news is, many retire from working for someone else. Baby boomers are
buying businesses and re-entering the market as small business owners.
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