NFIB report details record small business job openings

Findings from the National Federation of Independent Business (NFIB) February 2023 jobs report maintain there were record small business job vacancies.

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The NFIB noted the report is based on 626 respondents to the February survey of a random sample of NFIB’s member firms, surveyed through Feb. 28, 2023.

According to the NFIB analysis, 47 percent (seasonally adjusted) of small business owners reported job openings they could not fill in the current period, with the percent of small business owners reporting labor quality as their chief small business operating problem remains elevated at 21 percent.

“The small business labor demand remained strong in February,” NFIB Chief Economist Bill Dunkelberg said. “Small business owners are working to maintain competitive compensation and are raising compensation in the hopes of filling their open critical positions.”

According to the NFIB, 60 percent of small business owners reported hiring or attempting to hire in January. Of those hiring or trying to hire, 90 percent of small business owners reported few or no qualified applicants for the positions they were trying to fill.

The report noted the labor situation remains frustrating for small business owners, outlining staffing shortage has limited small business owners’ ability to fully take advantage of current sales opportunities.