Yes, there’s a labor shortage. But hiring is surging. Here’s why
By Anneken Tappe What labor shortage? America’s private sector employers added 692,000 jobs in June, according to Wednesday’s ADP Employment Report. That exceeded Wall Street analysts’ expectations. While employers complain that they can’t find enough workers, the battered leisure and hospitality industry still registered by far the most job growth at 332,000 new positions — accounting for nearly half of June’s overall job gains. So what gives? It’s all down to a timing mismatch, said ADP chief economist Nela Richardson. “Everyone is hiring at once to position for the summer reopening,” which means strong competition to find staff, Richardson told CNN