According to the latest jobs report prepared by the National Federation of Independent Business (NFIB), 37 percent of all owners reported vacancies they were unable to fill in February, a decrease of two points from January and the lowest reading since January 2021. Small business owners reported quality of work as their biggest small business problem fell five points from January to 16%, the lowest since April 2020.

NFIB Chief Economist Bill Dunkelberg noted that the number of small business jobs decreased in February to pre-pandemic levels. Hiring activity has eased somewhat as owners find it easier to find skilled workers, but labor demand remains strong. Owners’ plans to fill vacancies continue to slow, with a seasonally adjusted net 12% planning to create new jobs in the next three months, down two points from January and the lowest level since May 2020.

Labor costs reported as the most important issue for business owners rose one point to 11%, just two points below the peak of 13% reached in December 2021. Overall, 56% of owners reported hiring or trying to hire in February, which is one point more than in January. Of those who were hiring or trying to hire, 91% reported few or no qualified candidates for the positions they were trying to fill, up two points from January.

Seasonally adjusted, a net 35% reported a compensation increase, down four points from January and the lowest reading since May 2021. A net 19% plan to increase compensation in the next three months, down seven points from January and the lowest as of March 2021. The report also states that 32% have openings for skilled workers, an increase of two points, and 12% have openings for unskilled labor, a decrease of three points.

In terms of job creation across sectors

By Samantha Johnson

As a dedicated content writer at newspuk.com, I immerse myself in the art of storytelling through words. With a keen eye for detail and a passion for crafting engaging narratives, I strive to captivate our audience with each piece I create. Whether I'm covering breaking news, delving into feature articles, or exploring thought-provoking editorials, my goal remains constant: to inform, entertain, and inspire through the power of writing. Join me on this journalistic journey as we navigate through the ever-evolving media landscape together.

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