The National Federation of Independent Business (NFIB) Idaho State Director Suzanne Budge commented on April 3 regarding the recent NFIB monthly Jobs Report, 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 report also noted that 27% of owners had openings for skilled workers, a decrease of one point, while those with openings for unskilled labor rose by two points to 12%.
The NFIB Jobs Report is based on a national survey and highlights ongoing challenges faced by small businesses in filling positions. These findings are significant as they indicate persistent labor shortages among small businesses, which can impact local economies and overall employment trends.
Budge said, “The noise from this year’s session of the Idaho Legislature will reverberate for a while, but one thing is clear and that is lawmakers’ wise decision to hold the line on spending in a lean budget year and not raise taxes.”
According to the report, the Small Business Employment Index fell by 1.9 points to 101.6 in March. Despite this decline, it remains above both last year’s average of 101.2 and the historical average of 100. Other key findings include that a seasonally adjusted net 12% of owners plan to create new jobs in the next three months—unchanged from February—and about half (52%) reported hiring or trying to hire during March.
Labor quality continues to be an issue; fifteen percent cited it as their single most important problem—a rate unchanged from February but higher than its historical average. Compensation trends showed a slight decrease: seasonally adjusted net figures indicate fewer owners raised compensation or plan future increases compared with previous months.
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.”
Founded over eighty years ago, NFIB describes itself as a nonprofit association dedicated exclusively to supporting America’s small and independent business owners.
