NFIB Small Business Jobs Report
The NFIB Research Foundation has collected Small Business Economic Trends data with quarterly surveys since 1974 and monthly surveys since 1986. Survey respondents are drawn from NFIB’s membership. The survey was conducted in September 2017 and reflects a random sample of 10,000 small-business owners/members.
Small Business Hiring Activity Slides in September
Owners report decreasing jobs, according to NFIB Jobs Report
NFIB’s chief economist William C. Dunkelberg, issued the following comments on NFIB’s September 2017 Jobs Report:
Small business jobs activity faltered in September, with fewer owners trying to hire workers and more planning to cut positions, according to the monthly NFIB Jobs Report.
“We’ve had a very strong run since last November, and last month that stalled,” said NFIB President and CEO Juanita Duggan. “Finding qualified workers is a serious problem for small business owners and it may be discouraging employment activity.”
The adjusted average employment change per firm dipped to -0.17. Fifty-seven percent of small business owners reported hiring or trying to hire in September, but 49 percent said they couldn’t find qualified workers. Nineteen percent of small business owners said finding qualified workers was their number-one concern.
“The tight labor market has been a very tough problem for small business owners, and last month it appears to have reduced employment for the first time in months,” said NFIB Chief Economist Bill Dunkelberg. “Small business owners are seeking workers to meet higher consumer demand, but they can’t find people with the skills to fill the jobs. This is a very serious problem in the construction and manufacturing industries.”
Decreased employment among small firms was reported in six of the nine Census regions, which means that hurricanes in Texas and Florida can’t be blamed for the slowdown.
The full Small Business Economic Trends report will be released on Tuesday, October 10th
SHARE THIS REPORT