Boise, Idaho, March 7, 2024 – Idaho’s small business community received promising news following the signing of House Bill 428 by Governor Brad Little. The recent approval was well-received by the state’s leading small business association, the National Federation of Independent Business (NFIB), especially after releasing an improved Jobs Report.
Suzanne Budge, Idaho State Director for NFIB, commented on the significance of the new legislation, stating, “It’s always important to remind people that only employers pay unemployment insurance taxes, so getting a 20% reduction is huge, especially for smaller enterprises.” She also expressed gratitude towards Senators Kevin Cook and Jim Guthrie and Representatives Matt Bundy and James Holtzclaw for their roles in advancing the bill. The tax reduction aims to aid employers in hiring and expanding their businesses, benefiting those who are unemployed through no fault of their own.
The release of NFIB’s Jobs Report highlighted an improvement in small business hiring conditions. Budge noted, “Finally, after months and months of struggle finding employees, it looks like that may be turning ever so slightly, but we’re keeping the champagne on ice.”
NFIB Chief Economist William Dunkelberg provided further insights, indicating a decrease in job openings among small businesses to pre-pandemic levels. He stated, “Employment activity has lessened somewhat as it becomes easier for owners to find qualified workers. Even with this slowdown, labor demand remains strong.”
The NFIB’s Jobs Report is released monthly and forms part of the Small Business Economic Trends report, also known as the Optimism Index. NFIB, established in 1943, advocates for small and independent business owners across the United States. For more details, visit the organization’s website.
