The small business climate is still unsettled and unlikely to change after Election Day

FOR IMMEDIATE RELEASE
Contact: Suzanne Budge, Idaho State Director, sbs@sbsidaho.com
or Tony Malandra, Senior Media Manager, anthony.malandra@nfib.org 

BOISE, Idaho, Oct. 31, 2024—From Suzanne Budge, state director for NFIB in Idaho, which released its monthly Jobs Report today. 

“NFIB’s latest Jobs Report only confirms that this long period of uncertainty continues and is unlikely to change after Election Day. Congress looks like it will wait until next year to decide whether or not the 20% Small Business Deduction will be allowed to expire or made permanent, and if voters in Idaho approve Proposition 1, that will certainly suck up a lot of time in the next Legislature at the expense of other issues. Small business anxiety looks like it may be around for a long time. Let’s hope for the sake of our state it doesn’t become a permanent condition.” 

From NFIB Chief Economist Bill Dunkelberg on the Latest Jobs Report 

“On Main Street, the job market remains challenging. Although the labor market appears to be softening overall, small business owners reported little success filling their plentiful vacancies in October.”  

Highlights from the Latest Jobs Report 

• 35% (seasonally adjusted) of small business owners reported job openings they could not fill in October, up one point from September’s lowest reading since January 2021.  

• Job openings were the highest in the construction, transportation, and wholesale sectors, and the lowest in the agriculture and finance sectors. However, job openings in construction were down four points from last month with 49% having an open position they can’t fill. 

• A seasonally adjusted net 15% of owners plan to create new jobs in the next three months, unchanged from September.  

• A net 31% of small business owners reported raising compensation in October, down one point from September and the lowest reading since April 2021.  

• A net 23% (seasonally adjusted) plan to raise compensation in the next three months, unchanged from September. 

Keep up with the latest Idaho small-business news at www.nfib.com/idaho, where this news release can also be found, or by following NFIB on Twitter @NFIB_ID.  

### 

For 80 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 our 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 Idaho
802 W. Bannock Ste. 301
Boise, ID 83702
208-345-6632
Web page : NFIB.com/ID
Twitter: @NFIB_ID