Job Openings at Record Levels

Plus: The Upside of the Semiconductor Shortfall You are receiving this limited-time email resource as a subscriber to Kiplinger's free e-newsletters. To unsubscribe at any time, simply click the link in the footer below. JUNE 9, 2021 [View in browser]( HOW TO PROTECT AND GROW YOUR BUSINESS AND INVESTMENTS NOW In all parts of the country, job openings are at record levels since data began to be kept twenty years ago. They are double what would normally be the case, and are more than that in manufacturing, restaurants, entertainment and recreation, transportation and warehousing, education, and state and local government. --------------------------------------------------------------- SPONSORED CONTENT FROM SMARTASSET [These are Your 3 Financial Advisors in Your Area]( Finding the right advisor that fits your needs doesn't have to be hard. SmartAsset's free tool matches you with fiduciary financial advisors in your area in 5 minutes. [READ MORE]( --------------------------------------------------------------- This is consistent with reports that employers are having a hard time finding workers and that economic growth is strong this year. Economists are predicting growth near 7% for the year, whereas a typical growth rate would be about 2%. It is also the reason that wage growth is rising, especially for workers at the low end of the pay scale. Expect the labor shortage to continue this summer, and into the fall. At this point, you’re probably well aware of a global semiconductor shortage -- one bred from both a massive demand surge, as well as supply-chain issues chalked up to the COVID-19 pandemic. This has largely been a boon to the semiconductor industry, with the iShares PHLX Semiconductor ETF ([SOXX]( up 59% over the past year compared to a 31% gain for the S&P 500. Asset management firm Columbia Threadneedle Investments points out a continued benefit of this tech crisis for investors who love to focus on fundamentals: Clarity. “Earnings visibility for the semiconductor industry is probably at an all-time high,” says Sanjay Devgan, co-portfolio manager of Columbia Seligman Communications and Information Fund ([SLMCX](. “Historically with semis, when you placed an order, it was only good for that quarter. Now chip-dependent customers are lining up to put in one year's worth of non-cancelable orders, giving chip makers revenue visibility out for a year. This is a very profitable sector, and the change in earnings visibility could be a catalyst in how people view the valuation assigned to semi companies.” Free download, [The Kiplinger Letter's Forecast](. No information required from you. SPONSORED CONTENT FROM SMARTASSET [Find the Right Financial Advisor for You]( Ready to kick your retirement plan into high gear? Compare fiduciary financial advisors in your area. [READ MORE]( LATEST INVESTING NEWS FROM KIPLINGER.COM [12 Housing Stocks to Ride the Red-Hot Market]( [Estimated Tax Payments Are Due June 15]( [Jobs: A Return to Strength]( [IRS Is Sending More Unemployment Tax Refund Checks in June]( [Sign Up Free for Kiplinger's Retirement E-Newsletter to Plan for and Make the Most of a Richly Rewarding Retirement]( [Kiplinger] [Facebook]( [Twitter]( [LinkedIn]( Send this to a friend. [Click here.]( All content ©2021 The Kiplinger Washington Editors 1100 13th Street, NW, Suite 1000 Washington, D.C. 20005 Thank you for subscribing to Kiplinger's A Step Ahead, a free resource to help readers navigate the economic recovery from COVID-19. If you ever wish to stop receiving this service, please [click here to unsubscribe](.