Small business owners still struggling to find qualified employees

FOR IMMEDIATE RELEASE
Contact: Tony Malandra, Senior Media Manager, anthony.malandra@nfib.org 

JUNEAU, Alaska, Nov. 1, 2024—Release yesterday of NFIB’s latest Jobs Report on small businesses showed little change in their inability to find qualified employees to fill open job positions, and it comes on the heels of another NFIB survey this month showing a record high in uncertainty. 

How much the Tuesday’s outcome of Alaska’s Ballot Measure 1 will contribute to the anxiety remains to be seen. 

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 Yesterday’s 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 Alaska small-business news at www.nfib.com/alaska or by following NFIB Alaska on Twitter @NFIB_AK.  

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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 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 Alaska
Box 211231 
Juneau, AK 99821
907-723-1494 
www.nfib.com/alaska
Twitter: @NFIB_AK