Small business owners in Nevada continue to face challenges filling open positions, according to the latest monthly Jobs Report from the National Federation of Independent Business (NFIB). The report, released July 31, shows that 33% of small business owners nationwide reported job openings they could not fill in July. This figure is down three points from June and marks the lowest level since December 2020, but it remains above the historical average of 25%.
Tray Abney, NFIB Nevada State Director, commented on the findings: “Finding qualified applicants for open job positions has been a problem for so long, it’s almost become the new normal. That’s why it’s vitally important for small businesses to have the right state and federal policies in place that allow them stay solvent and possibly even grow, which I’m happy to report our recently concluded session of the Nevada Legislature, which did no harm, and Congress’ making the 20% Small Business Deduction permanent will help aid them in doing.”
The NFIB Jobs Report surveys member small-business owners across the country. The typical NFIB member employs between one and nine people with gross sales around $500,000 annually.
Bill Dunkelberg, NFIB Chief Economist, said: “The challenge of finding qualified workers is easing overall but still remained significant for many small business owners in July. The easing labor market pressures are also reflected in fewer firms raising compensation.”
According to highlights from the report:
– Job openings were most common in construction, wholesale, and transportation industries. Openings were least common in finance and agriculture.
– A seasonally adjusted net 14% of owners plan to create new jobs within three months—up one point from June and above the historical average.
– A net 27% of owners reported raising compensation in July (seasonally adjusted), down six points from June. Meanwhile, a net 17% plan to raise compensation over the next three months.
– Labor costs as a primary concern dropped by one point from June to 9%.
NFIB has represented small and independent businesses for more than eight decades at both state and national levels. More information about their work can be found at https://www.nfib.com.
