Silver State Times

Job vacancies have become a significant challenge for small businesses, according to the latest Job Report by the National Federation of Independent Business (NFIB). In March, 40% of small business owners reported difficulties in hiring, an increase of two percentage points from February.

Tray Abney, the NFIB's Nevada State Director, commented on the report, stating, "This report proves that it is difficult enough for small business job creators to fill needed positions without the Nevada Legislature requiring them to pay for those positions twice through a proposed mandated three-month sick leave law." Abney added, "We need our elected officials to help us succeed, not drive us to defeat."

NFIB’s Job Report, released monthly on the first Thursday, surveys small-business owners across the nation. The survey includes typical NFIB members who employ between one and nine people and report approximately $500,000 in gross sales annually.

Bill Dunkelberg, NFIB's Chief Economist, noted, "With qualified workers in short supply, job openings stayed solid on Main Street in March. As spring progresses, fewer small business owners plan to create new positions, but they are looking to fill current vacancies."

Specific sectors are facing varying levels of job openings. The construction, transportation, and manufacturing sectors reported the highest vacancies, while agriculture and wholesale sectors experienced the lowest. Notably, construction sector job openings increased by ten points from the previous month and rose by 12 points from March 2024. The transportation sector saw a substantial rise of 23 points from February, reaching 53%.

Additional findings highlight that 19% of small business owners cited labor quality as their top operational problem, a figure unchanged from February. Labor costs, considered the most significant issue for business owners, decreased by one point to 11% in March, dipping below the peak of 13% recorded in December 2021.

A seasonally adjusted net 38% of small business owners reported increasing compensation in March, an increase of five points from February, with 19% planning to raise compensation in the coming three months.

For ongoing updates on Nevada small-business news, visit www.nfib.com or follow the NFIB on X @NFIB_NV.

NFIB has been advocating for small businesses for over 80 years in Washington D.C. and across all 50 state capitals. The organization is committed to supporting small and independent businesses since its inception in 1943.