The National Federation of Independent Business (NFIB) has released its latest Jobs Report, revealing ongoing challenges for small businesses in America. According to the report, 42% of business owners have job openings they cannot fill, a figure that is down slightly from May but still significantly higher than the historical average of 23%.
Suzanne Budge, Idaho state director for NFIB, commented on the difficulties small-business owners face in finding workers. “The problems small-business owners are having in finding workers is most certainly not a wage issue,” she stated. The report noted that 36% of businesses have raised wages, with another 22% planning to do so.
Budge also highlighted the decision by state legislators to halt House Bill 48, which would have allowed local governments to set their own minimum-wage rates. She argued that such measures could worsen the challenges faced by small businesses.
William Dunkelberg, NFIB Chief Economist, explained that labor force participation remains below pre-COVID levels. He said this contributes to a tight labor market and forces business owners to raise compensation to attract workers. “With labor demand remaining strong, owners will have to continue raising compensation to compete and fill their open positions,” Dunkelberg added.
The Jobs Report is part of NFIB’s Small Business Economic Trends report or Optimism Index. This index is regarded as an important measure of America’s Main Street economy by policymakers at both federal and state levels.
For more information about Idaho’s small business climate and updates from NFIB, visit www.nfib.com/idaho or follow them on Twitter at @nfib_id.
