Small Businesses Saw January Job Gains

Date: February 08, 2016

Business Owners Still Struggling To Find Qualified Workers, Survey Finds

According to the latest NFIB Small Business Jobs Report surveying 1,438 US small businesses, in January small businesses saw an uptick in hiring, with average employment per company rising by 0.11 workers from a loss of -0.07 workers in December. The survey found that 29 percent of small business owners had jobs they were unable to fill in January, one percent more than in December and the highest level since the recession. Furthermore, “a seasonally adjusted net 27 percent of owners reported raising workers’ compensation, up 5 points and the highest level since late 2007.” Reuters reported that the survey found that 52 percent of small businesses were hiring in January or attempting to hire.

What This Means For Small Businesses

In the NFIB report, Chief Economist William Dunkelberg said, “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. 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.” In the Washington Post Dunkelberg suggested these results indicate “employers will face continued wage and benefit cost pressure in order to attract and keep good employees.” These results indicate small business hiring may be a bright spot that can help boost the overall sluggish economy.

Additional Reading

The Wall Street Journal also reported on the NFIB Small Business Jobs Report.

Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.

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