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Jobs Report

The NFIB Research Foundation has collected Small Business Economic Trends data with quarterly surveys since 1974 and monthly surveys since 1986. Survey respondents are drawn from NFIB’s membership. The survey was conducted in January 2025 and reflects a random sample of 10,000 small-business owners/members.

NFIB Jobs Report: Job Openings Remain a Top Concern for Main Street

NFIB’s January jobs report found that 35% (seasonally adjusted) of small business owners reported job openings they could not fill in January, unchanged from December. Job openings were the highest in the transportation, construction, and manufacturing sectors, and the lowest in the agriculture and finance sectors. Job openings in construction were up four points from last month and down two points from the prior year.

Small business owners are certainly feeling hopeful about the direction of the economy, However, employment remains a top concern as Main Street owners continue to face challenges in finding qualified employees to fill their open positions.

– Bill Dunkelberg, NFIB Chief Economist

Overall, 52% of small business owners reported hiring or trying to hire in January, down three points from December. Forty-seven percent (90% of those hiring or trying to hire) of owners reported few or no qualified applicants for the positions they were trying to fill. Twenty-four percent of owners reported few qualified applicants for their open positions and 23% reported none.

Twenty-nine percent have openings for skilled workers (unchanged) and 10% have openings for unskilled labor (down three points).

A seasonally adjusted net 18% of owners plan to create new jobs in the next three months, down one point from December.

The percent of small business owners reporting labor quality as their top operating problem fell one point from December to 18%. Labor costs reported as the single most important problem for business owners fell two points from December to 9%, only four points below the highest reading of 13% reached in December 2021.

Seasonally adjusted, a net 33% of small business owners reported raising compensation in January, up four points from December’s lowest reading since March 2021. A net 20% (seasonally adjusted) plan to raise compensation in the next three months, down four points December.

Click here to view the entire NFIB Jobs Report

The full Small Business Economic Trends report will be released on Tuesday, February 11th.

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