The National Federation of Independent Business (NFIB) Nevada State Director Tray Abney commented on April 2 regarding the latest monthly Jobs Report from NFIB, which found that in March, 32% of small business owners nationwide reported job openings they could not fill. This figure is down one point from February but remains above the historical average of 24%.
The continued difficulty in filling open positions highlights ongoing challenges for small businesses. Unfilled job openings can affect business operations and growth, particularly when a significant portion are for skilled workers. According to the report, 27% of owners have openings for skilled workers and 12% have openings for unskilled labor.
Abney said, “Every small business owner struggles with hiring ready-to-work qualified employees, taxes and regulations every single day. Congress did right by making the 20% Small Business Tax Deduction permanent, which will enhance stability and longevity. Now, we need to elect more pro-job-creation legislators this year, that will help take the burden off Gov. Joe Lombardo to stop Carson City’s worst anti-business impulses. Such an economic climate would help stabilize businesses long enough for them to work out their hiring difficulties.”
The NFIB Jobs Report is based on a national survey of its member small-business owners and includes data such as the Small Business Employment Index—a measure integrating actual and planned changes in employment and compensation into a single number. The Index fell by 1.9 points to reach 101.6 in March but stayed above both last year’s average (101.2) and its historical average (100).
NFIB Chief Economist Bill Dunkelberg said, “While small businesses are not hiring extensively, they continue to face difficulties related to labor cost and quality. Despite the current stagnant employment growth, economic conditions could change rapidly.”
Other findings include that a net seasonally adjusted 12% of owners plan to create new jobs over the next three months; overall hiring or attempts at hiring dropped two points compared with February; labor quality remains a top concern at levels higher than historical averages; compensation increases slowed slightly; and plans for future raises hit their lowest level since July last year.
Founded in 1943 as a nonprofit association dedicated exclusively to representing America’s small businesses across all states including Nevada, NFIB continues its advocacy efforts today.
