American employers said they one key ingredient is missing and that ingredient is workers.
Finding available and qualified candidates is a big challenge for businesses and some have reduced hiring because of that.
Many companies fill in the holes with some of the more than 27 million workers living in the U.S. who are foreign-born.
The decision by President Donald Trump to repeal the Deferred Action for Childhood Arrivals or DACA program put some 800,000 young adults at risk of being deported. They are people born outside the U.S. but were brought in as young children by their parents or family and have lived for at least a decade in the country.
Experts say that repealing DACA is going to make the shortage of workers worse in the U.S. as eliminating DACA workers lowers the number of overall skilled workers and a number of industries are facing shortages of workers.
One analyst estimates that the repeal of DACA would hit the government of the U.S. due to deporting taxpayers. He believes there is the potential for a loss of $60 billion in tax revenues to the U.S. government and a hit of more than $280 billion to the economic growth of the nation over the next decade.
Worker shortages have become a big deal nationwide. Tech companies cannot find enough developers of software. Construction companies cannot locate skilled builders. Tourism companies are having a hard time finding service employees. Trucking companies are short drivers and farmers need additional workers in the field.
Eighty-seven percent of the small business owners hiring or attempting to hire during July reported little or no applicants who were qualified.
Finding talented workers has been the biggest problems manufacturing and construction, industries that are at the core of President Trump’s support base.
The more than 800,000 people that fall under the DACA program have helped fill in the gaps. Over 75% of them have jobs and have wages that average more than $17 per hour.
The median age is 22, which means most are ready to begin careers or jobs for the future. The holder of DACA permits are part of the countries formal job market, which means they are paying local, state as well as federal taxes when they are given pay checks rather than being paid cash under the table.
Without these workers, fewer overall workers will be available and often times fewer workers equal smaller profits for smaller businesses.