FOR IMMEDIATE RELEASE
Contact: Casey Hill, Utah State Director, casey@lincolnhill.com
Tony Malandra, Senior Media Manager, anthony.malandra@nfib.org

SALT LAKE CITY, Utah, March 7, 2025—The latest monthly Jobs Report released yesterday by the National Federation of Independent Business (NFIB), the nation’s leading small business association, showed job creation weakening in February, its highest reading since last August.

“The previous two Jobs Reports had given everyone a little hope that an economic recovery along America’s Main Streets might finally be underway, but the latest report shows how fragile that hope is,” said Casey Hill, state Director for NFIB in Utah. “Two things need to happen as soon as possible. Congress needs keep the 20% Small Business Tax Deduction from expiring at the end of the year, and state legislatures across the nation need to follow Utah’s lead lowering taxes and removing unnecessary regulation. I’m proud to say Utah is the best example of how to do both and be a help not a hinderance to mom-and-pop, Main Street business.”

NFIB’s Jobs Report is released the first Thursday of every month. It is a national survey of NFIB-member small-business owners, not broken down by state. The typical NFIB member employs between one and nine people and reports gross sales of about $500,000 a year.

From NFIB Chief Economist Bill Dunkelberg

“Over half of Main Street firms reported hiring or trying to hire in February, but with little success. Meanwhile, consistent compensation increases continue to put pressure on small business owners as they look for qualified workers to fill their many open positions.”

Highlights from the Latest Jobs Report

• 38% (seasonally adjusted) of small business owners reported job openings they could not fill in February, up three points from January and the highest reading since August 2024.
• Job openings were the highest in the retail, construction, and manufacturing sectors, and the lowest in the agriculture and finance sectors. Job openings in construction were up one point from last month, but down seven points from the prior year.
• The percent of small business owners reporting labor quality as their top operating problem rose one point from January to 19%. Labor costs reported as the single most important problem for business owners rose three points from January to 12%, only one point below the highest reading of 13% reached in December 2021. The last time labor costs were ranked this high was February 2023.
• Seasonally adjusted, a net 33% of small business owners reported raising compensation in February, unchanged from January. A net 18% (seasonally adjusted) plan to raise compensation in the next three months, down two points from January.

Keep up with the latest on Utah small-business news at www.nfib.com or on X @nfib_ut.

###

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 Utah
68 East 300 North
Salt Lake City, UT 94103
801-634-6564
www.nfib.com/utah
X: @NFIB_UT