Wyoming’s political leaders praised for helping blunt the economic storm
CHEYENNE, Wyo., July 1, 2021—The release today of NFIB’s monthly Jobs Report, a nationally watched indicator of the nation’s small-business economy, showed only a slight dip in a key component and a 5% rise in another, but the Wyoming state director for the National Federation of Independent Business, which conducted the report, said policy initiatives taken by state leaders were essential to economic recovery.
“The management expertise provided by Gov. Mark Gordon’s office and legislative leadership in protecting Wyoming’s unemployment trust fund cannot be overstated,” said Tony Gagliardi, NFIB Wyoming state director. “Raising unemployment insurance taxes on employers is a questionable idea in the best of times, but coming out of a pandemic, it would have been devastating for business solvency and hiring decisions. Unlike Wyoming’s neighbor to the south, legislative leaders and the governor concentrated not only on keeping Wyoming residents safe from COVID but also on protecting economic stability of the state.”
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 Wyoming small-business news at www.nfib.com/WY.
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.
P.O. Box 1890
Cheyenne, WY 82009