Want a job? Go West, where ads unanswered - Stocks & Economy - MSNBC.com - 0 views
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Want a job? Go West, where ads unansweredRecord low unemployment has created tough conditions for businesses
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The owner of a fast food joint in Montana’s booming oil patch found himself outsourcing the drive-thru window to a Texas telemarketing firm, not because it’s cheaper but because he can’t find workers.
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John Francis, who owns the McDonald’s in Sidney, Mont., said he tried advertising in the local newspaper and even offered up to $10 an hour to compete with higher-paying oil field jobs.
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Unemployment rates have been as low as 2 percent this year in places like Montana, and nearly as low in neighboring states.
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The state approached double-digit unemployment levels in the 1980s and began the slow crawl back in the early 1990s.
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The U.S. Department of Labor reports the mountain West region — covering eight states along the Rocky Mountains — has the lowest overall unemployment rate in the nation. The region hit an all-time low of 3.4 percent in May.
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The effects are everywhere. Logging equipment in Idaho sits idle as companies have a tough time finding workers. A shortage of lifeguards has forced Helena to shorten hours at children-only pools. A local paper in Jackson, Wyo., has page after page of help wanted ads.
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Established baby boomers, including retirees, have been moving into Montana for the mountain views and recreation, bringing with them money for new homes that fuel construction job growth,
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Montana wages have historically been among the lowest in the country, and still rank near the bottom.
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The problem could get worse as more baby boomers retire, Swanson said. By 2030, Montana and Wyoming are predicted to have among the oldest populations in the U.S., with about 26 percent of residents 65 and older,