RSM’s Joe Brusuelas on the Middle Market’s Labor Dilemma
RSM's chief economist discusses the impact of a tight labor market, trade tensions and monetary policy decisions.
Joe Brusuelas, chief economist for RSM, joined MMG Editor Kathryn Mulligan to provide an economic update for the middle market, including how the tight labor market, trade tensions and monetary policy decisions will impact midsize companies.
Brusuelas expects the labor shortage will lead to production bottlenecks next year, prompting companies to substitute robotics and automation for human labor, and he says middle-market leaders should plan to increase wages by as much as 4 percent over the next six months to attract qualified employees.
Brusuelas also offered his outlook for monetary policy in 2019 and explained why it’s essential that middle-market participants closely watch moves from the Federal Reserve.
“It’s really important that middle-market business owners recognize that the first of the artificial intelligence devices are now on the market, and that you can integrate them into how you run your business.”
Additional insight into these topics is available in RSM’s latest Real Economy report.
To hear more interviews with middle-market influencers, subscribe to the Middle Market Growth Conversations podcast on iTunes and Google Play.
