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

FOR IMMEDIATE RELEASE
Contact: Ronda Wiggers, State Director, rondakwiggers@gmail.com
or Tony Malandra, Senior Media Manager, anthony.malandra@nfib.org 

HELENA, Mont., Oct. 31, 2024—From Ronda Wiggers, state director for NFIB in Montana, which released its monthly Jobs Report today. 

“There were no surprises in NFIB’s latest Jobs Report. Small businesses still struggle to fill vacant job openings, and although a tiny bit less so, not enough to change the fact that it’s the new normal. Add to this all the other issues making this a period of great uncertainty, such as Congress’ probably waiting until next year to decide whether or not the 20% Small Business Deduction will be a permanent feature of the tax code or allowed to expire, it’s no wonder there’s a great deal of anxiety out there.” 

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 Montana small business news at www.nfib.com/montana or by following us on X at @NFIB_MT.  

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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 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 Montana 
406-899-9659 
rondakwiggers@gmail.com 
www.nfib.com/montana 
Twitter: @NFIB_MT