Texas Business Search: Business Analytics Needs To Grow, But It’s Not Working
A growing number of Texas businesses are struggling to find enough employees to keep pace with demand, a new study by the Austin Chamber of Commerce finds.
The Austin Chamber analyzed the state’s workforce from July through August, and found that just 9.6 percent of employers had enough employees for a full year of business growth.
That’s down from 11.3 percent in August, but the chamber says that is not necessarily a bad thing.
“There are some employers that are hiring the right amount of people,” Chamber President Robert A. Hahn said.
“But we do not see the same thing in other sectors.”
The chamber’s study, which surveyed employers, showed that just under 3 percent of companies were actively hiring for the first time.
That number dropped to 1.9 percent in the second half of August.
“It’s still too early to tell,” said Hahn, who pointed to the fact that the number of jobs was not growing as quickly as previously projected.
“It’s not a perfect picture.
There are still many more companies in Texas that are not hiring the talent that they need.”
For example, a Houston-area restaurant that has about 50 full-time employees was looking to hire 50 more.
The number of employees is now roughly half the company’s total workforce, but there are only two cooks.
“We’re hiring the ones that are the right caliber, and we’re hiring them at a rate that will allow us to pay for the salaries that we need,” Hahn added.
“I don’t think the numbers are good.”
The Austin area’s population is growing at a slower pace than the national average, which is expected to reach about 11.5 million by 2027, according to the Bureau of Labor Statistics.
But the number is expected for the state to decline by 1.6 million over the same time period.
The report comes at a time when Texas is trying to create more jobs and attract talent to the state.
Last week, Gov.
Greg Abbott signed legislation that allows businesses to apply for up to $100 million in state grants and tax breaks to attract more people to the Lone Star State.
The Texas Chamber’s survey also showed that there is a gap between what Texas is hiring and what it needs.
About 10.6% of Texas companies had enough staff to fill their entire workforce during the first six months of the year.
But by August, that number had dropped to 7.4%.
The chamber estimates that the jobless rate for Texas employers is at its lowest level since the early 2000s.
Hahn said he believes that the state has made some progress since the recession, with the state now averaging about 1.2 people per full-year job, which compares to an average of 2.7 people per job for the national job market.
“I think the state is on the cusp of something really significant,” he said.
The Chamber is not alone in its concerns.
The American Chamber of Business, which represents more than 100,000 businesses across the country, says the lack of hiring for more workers is not a sign of a recovery in the Texas economy.
“The hiring rate in Texas remains the lowest in the country and remains below the national rate,” the group said in a statement.
“Our state remains among the worst states for job creation, and the lack.
of openings shows no sign of improving.”
A spokeswoman for Abbott did not immediately respond to a request for comment on the Chamber’s findings.