Minnesota Firms Still Concerned About Finding Workers
The Minnesota Department of Employment and Economic Development along withe Federal Reserve Bank of Minneapolis have released results of a survey. 1,200 Minnesota business firms were surveyed this spring in regards to how they view their future.
The survey showed 86% expected sales revenue to increase or remain stable next year. The availability of labor is still a source of concern for those surveyed. 79% felt labor availability will remain stable while 13% expect a decline. Only 8% stated that they thought labor availability would grow into next year.
Other results indicated 28% expect employment levels to grow and 67% expect them to remain the same. 46% expect sales to grow and 40% expect them to remain the same in 2020.
In regards to the past 12 months 77% of the respondents indicated revenue was up or remained the same.
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