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 January 2016 and reflects the responses of 1,438 sampled NFIB members.
Small Business Job Creation and Compensation Climb in January
Pressure from tighter labor market raises workers’ pay
NFIB’s chief economist William C. Dunkelberg, issued the following comments on NFIB’s January 2016 Jobs Report:
Job creation improved in January and small employers are paying more in order to attract good employees in a tightening labor market, according to the January 2016 Jobs Report released today by the National Federation of Independent Business.
“The percentage of owners citing difficulty finding qualified workers as their ‘Single Most Important Business Problem’ remained unchanged at 15 percent for the third month in a row,” said NFIB Chief Economist William C. Dunkelberg. “That makes it the third biggest problem for small business owners behind taxes and regulations and red tape, the highest reading since 2007. Employers are paying more in order to attract and keep good employees.”
The average employment gain per firm rose to 0.11 from -0.07 workers in December. Twenty-nine percent of all owners reported job openings they could not fill, which is up 1 point and at the highest level for this expansion. A seasonally adjusted net 27 percent of owners reported raising workers’ compensation, up 5 points and the highest level since late 2007.
Dunkelberg predicts that the January jobs number will be in the low 200,000 range and the unemployment rate will see a reduction.
NFIB’s January Jobs Report is based on the NFIB monthly Small Business Economic Trends survey. The survey was conducted in January and reflects the response of 1,438 small businesses.
Results of the full survey will be released on Tuesday, February 9th.
Expected Jobs Numbers:
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