Where are the Highly Skilled Workers?

New research from the Federal Reserve Bank of Dallas shows the search for highly skilled workers in Texas continues to frustrate many businesses.

Of the nearly 360 respondents, 43.5% said that they are currently trying to fill high-skill positions (roles typically requiring a college degree or higher). Nearly half say that finding these candidates has been very difficult, while another 44% deemed it difficult.

Overall, when asked about the impediments to hiring workers:

• 74% said lack of available applicants/no applicants

• 52% said workers were looking for more pay than is offered

• 41% cited a lack of technical competencies (hard skills)

• 37% cited a lack of experience in general

The Texas Manufacturing Economy

What’s the outlook for local manufacturing activity? That depends on who you ask, according to the respondents to the Texas Manufacturing Outlook Survey from the Federal Reserve Bank of Dallas.

First, the positive:

• Capacity utilization rose 0.2% to 3.5%

• Production index rose 1.5% to 2.3%

• The future production index climbed 10 points to 13.6.

However, the future general business activity index rose eight points but remained negative at -17.7. This could suggest that more manufacturers expect worsened activity six months from now than improved.