The measure would increase the financial pressure on small businesses already dealing with inflation
NFIB State Director Leah Long testified before the House Labor and Industrial Relations Committee today on House Bill 290, legislation to establish the state minimum wage that’s higher than the federal minimum wage of $7.25 per hour.
Citing the most recent NFIB Jobs Report, Long told lawmakers that small businesses already have increased pay to attract and keep the best employees. “Small businesses right now are continuing to adapt their business operations to manage ongoing inflation pressures,” she said.
The Jobs Report said a net 38% of small businesses nationwide reported raising compensation, up three points from February’s lowest reading since May 2021. A net 21% planed to raise compensation in the next three months, up two points from February.
Unchanged from last month, a seasonally adjusted 37% of small business owners surveyed reported job openings they could not fill in the current period, the lowest reading since January 2021.
Click here to watch Long’s testimony. Her segment begins at about the 3:41 mark.
