April 16 (Bloomberg) — To hire 10 to 15 project coordinators this year, Sabre Commercial Inc. has boosted pay 10 percent and added a 401(k) retirement plan.
"It is an employee's market," said John Cyrier, co- founder and president of the 48-employee Austin, Texas-based builder. "We are definitely seeing a labor shortage in Austin and central Texas. I see it only getting worse."
Companies from Texas to Virginia and Nebraska are struggling to fill positions with metropolitan jobless rates below the 5.2 percent to 5.6 percent level the Federal Reserve regards as full employment nationally. Competition for workers is prompting businesses to raise wages, increase hours for current employees, add benefits and recruit from other regions.
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