State took good measures to speed economic recovery, says small-business leader
FOR IMMEDIATE RELEASE
Contact: Chad Heinrich, Arizona State Director, [email protected]
or Tony Malandra, Senior Media Manager, [email protected]
PHOENIX, July 1, 2021—There’s no cause to pop champagne corks yet, according to today’s release of NFIB’s monthly Jobs Report, a national barometer of the small-business economy, but the state for NFIB said Arizona is well-positioned to beat its neighbors to full economic recovery.
“Early legislative action this year to enact COVID-19 liability protection for businesses followed by recently adopted, historic tax reforms for income and property taxpayers will feed the flames of optimism and build confidence in business owners–leading to more investment, hiring, and growth of small businesses in Arizona,” said Chad Heinrich, Arizona state director for NFIB. “While small-business owners remain in a struggle to fill open jobs, in Arizona our small businesses are seeing the support that comes from having a pro-small-business Legislature as our elected officials wrap up business at the State Capitol.”
Highlights from the Jobs Report
- According to NFIB’s monthly jobs report, 46% of small business owners reported job openings they could not fill in the current period, down two points from May but still above the 48-year historical average of 22%. Small business owners continue to struggle to find qualified workers for their open positions while raising compensation at a record high level.
- A net 39% (seasonally adjusted) of owners reported raising compensation (up five points), a record high. A net 26% plan to raise compensation in the next three months (up four points).
From NFIB Chief Economist Bill Dunkelberg
- “In the busy summer season, many firms haven’t been able to hire enough workers to efficiently run their businesses, which has restricted sales and output,” said NFIB Chief Economist Bill Dunkelberg. “In June, we saw a record high percent of owners raising compensation to help attract needed employees and job creation plans also remain at record highs. Owners are doing everything they can to get back to a full, productive staff.”
NFIB’s Jobs Report is a national snapshot not broken down by state. Today’s results were based on 592 respondents to the June survey of a random sample of NFIB’s member firms, surveyed through 6/28/2021. The NFIB Research Foundation has collected Small Business Economic Trends data with quarterly surveys since 1974 and monthly surveys since 1986.
Keep up with the latest on Arizona small business news at www.nfib.com/arizona or by following NFIB on Twitter @NFIB_AZ
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For 78 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since its founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.
NFIB Arizona
602-263-7690
NFIB.com/AZ
Twitter: @NFIB_AZ
