The National Federation of Independent Business (NFIB) reported on Feb. 6 that 35% of small business owners had job openings they could not fill in January, a figure unchanged from December. The report highlighted that the transportation, construction, and manufacturing sectors had the highest number of unfilled positions, while agriculture and finance saw the lowest.
The issue of finding qualified workers continues to be a significant concern for small businesses. NFIB Chief Economist Bill Dunkelberg said, “Small business owners are certainly feeling hopeful about the direction of the economy. However, employment remains a top concern as Main Street owners continue to face challenges in finding qualified employees to fill their open positions.”
Although there is no state-specific data available, NFIB State Director Michael Smith addressed the situation in Wyoming. “Unfortunately, finding qualified applicants remains a serious obstacle for Wyoming small business owners. This makes it harder for Main Street to grow and meet the needs of their customers. We will continue working with lawmakers to promote greater economic opportunity for all Wyomingites,” Smith said.
According to the report, 52% of small business owners were hiring or trying to hire in January, which is three points lower than December. Of those seeking new employees, 47% reported few or no qualified applicants for their open positions; specifically, 24% found few qualified candidates and 23% found none at all. Openings for skilled workers remained steady at 29%, while openings for unskilled labor dropped by three points to 10%. A net 18% of owners plan to create new jobs over the next three months.
Labor quality was cited as the top operating problem by 18% of respondents—a one-point decrease from December—while labor costs as a primary concern fell two points to 9%. Compensation trends showed that a seasonally adjusted net 33% raised pay in January (up four points from December), but only a net 20% plan further increases over the next three months.
The ongoing difficulty in filling open positions suggests continued pressure on small businesses as they try to expand and serve their communities.
