Skip to content

NFIB North Dakota’s Don Larson Reacts to August Jobs Report

NFIB North Dakota’s Don Larson Reacts to August Jobs Report

September 5, 2024

NFIB North Dakota's Don Larson Reacts to August Jobs Report

NFIB’s August jobs report found that 40% (seasonally adjusted) of small business owners reported job openings they could not fill in August, up two points from July. Labor quality as the top small business operating problem rose two points from July to 21%, the highest level reported since January of this year. “Job openings on Main Street remain historically high as small business owners continue to lament the lack of qualified applicants for their open positions,” said NFIB Chief Economist Bill Dunkelberg. “Owners have grown understandably frustrated as attempts to fill their workforce repeatedly stall and cost pressures continue to rise.” “The NFIB Jobs Report reveals small businesses in North Dakota are struggling with a lack of qualified workers,” said NFIB North Dakota State Director Don Larson. “It’s vital that we continue to invest in workforce training and development initiatives to prepare our residents for these opportunities, ensuring our economy continues to thrive.” Overall, 62% of small business owners reported hiring or trying to hire in August, up five points from July. Fifty-six 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. Thirty-one percent of owners reported few qualified applicants for their open positions and 25% reported none. Thirty-six percent have openings for skilled workers (up four points) and 15% have openings for unskilled labor (down one point). Job openings in construction were up five points from July and over half of them (60%) have a job opening they can’t fill. Job openings were the highest in the transportation, construction, and manufacturing sectors, and the lowest in the agriculture and finance sectors. A seasonally adjusted net 13% of owners plan to create new jobs in the next three months, down two points from July. Labor cost reported as the single most important problem for business owners was unchanged at 9%, 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 August, unchanged from July and the lowest reading since April 2021. A net 20% (seasonally adjusted) plan to raise compensation in the next three months, up two points from July. Click here to view the entire NFIB Jobs Report.
Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Receive our newsletter and email notification
Knowledge is power. Let us help you stay informed with breaking legislative news, regulatory updates, business tips, and more.

Related Articles

February 3, 2025
Vermont Capitol Update
In his budget address and other public comments, Governor Phil Scott called…
Read More
February 3, 2025
NY Capitol Update: 2025 Executive Budget Proposal
The state has estimated budget gaps of $6.5 billion in 2027, $9.8 billion i…
Read More
January 31, 2025
Gov. Stein Announces $30 Million Grant Program For Small Busine…
Impacted businesses lost $18 billion in revenue because of the hurricane.
Read More
January 15, 2025
Members Asked to Speak Out Against Minimum Wage Proposal 
Legislative bill would also require paid vacation leave for every 40 hours…
Read More

© 2001 - 2025 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy Policy | Accessibility