The National Federation of Independent Business (NFIB)’s December jobs report found that 33 percent (seasonally adjusted) of small business owners reported job openings they could not fill in December, unchanged from November. Unfilled job openings remain above the historical average of 24 percent. Twenty-eight percent have openings for skilled workers (up 2 points), and 10 percent have openings for unskilled labor (down 2 points).
“The economic climate continues to support the small business labor market,” said Bill Dunkelberg, chief economist for NFIB. “Although employment conditions vary, fewer owners report labor as their biggest challenge while compensation pressures are escalating.”
Overall, 53 percent of owners reported hiring or trying to hire in December, down 3 points from November. Forty-eight percent of owners (91 percent of those hiring or trying to hire) reported few or no qualified applicants for the positions they were trying to fill (down 2 points).
Seasonally adjusted, a net 31 percent of small business owners reported raising compensation in December, up 5 points from November. A net 24 percent (seasonally adjusted) plan to raise compensation in the next three months, unchanged from November.