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 November 2016 and reflects a random sample of 10,000 small-business owners/members.
Job Creation Flat in November but Plans to Hire Improve
Job openings highest since 2009; plans to hire hit peak for 2016
NFIB’s chief economist William C. Dunkelberg, issued the following comments on NFIB’s November 2016 Jobs Report:
Job creation remained weak in November, but more small employers said they have open positions, and a greater percentage of firms reported plans to hire in the future, according to the monthly National Federation of Independent Business (NFIB) Jobs Report, released today.
“Job creation among small businesses was relatively weak in November, but there are clear signs that business owners are feeling better about the future,” said NFIB President and CEO Juanita Duggan. “They are trying to hire, but they are still having a difficult time finding qualified employees.”
The NFIB Index of Small Business Optimism, due out on December 13th, may paint a clearer picture, according to Duggan.
The November Jobs Report posted a gain of 0.02 workers per firm. According to the report, 15 percent of small firms have plans to create jobs, a five-point increase and the strongest reading in 2016.
“That’s a positive sign that small business owners have enough confidence in the future to make investments in new employees,” said NFIB Chief Economist Bill Dunkelberg. “But the scarcity of qualified workers continues to be a frustration for small employers.”
Fifty-eight percent of small employers said they hired or tried to hire in November. Among them, however, 52 percent said they found few or no qualified workers for the positions they were trying to fill. Finding qualified workers continues to rank as one of the top three ‘Single Most Important Business Problems,’ according to the Jobs Report.
“We may be seeing a light at the end of the tunnel,” said Duggan. “This data signals that small business, which is the traditional engine of job creation, is coming to life and ready to put Americans back to work.”
The full Small Business Economic Trends report will be released on Tuesday, December 13h
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