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Jason Bram and Richard Deitz
The Federal Reserve Bank of New York’s monthly business surveys include special supplementary questions on topics of interest. April’s survey questions focused on how difficult it has been for firms in the region to find and retain workers with basic skills, such as math and English, as well as advanced computer skills and “soft skills,” such as punctuality and interpersonal skills. Overall, the level of difficulty finding workers has not changed much since April of last year, when these questions were previously asked. Workers with advanced computer skills were the hardest to find, for both manufacturing and service firms. Manufacturers report much more difficulty than service firms in finding people with basic English, computer, and especially math skills, and even seem to be having difficulty in finding workers that are simply punctual and reliable. Service firms say they’ve had particular trouble finding candidates with good interpersonal skills. These findings suggest that although the job market recovery remains tepid, demand for workers with particular skills is still significant.
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