From NFIB Oregon State Director Anthony Smith on October 2’s release of the monthly Jobs Report from the National Federation of Independent Business (NFIB), showing that 32% (seasonally adjusted) of small business owners reported job openings they could not fill in September, unchanged from August. The last time unfilled job openings fell below 32% was in July 2020.
“While the national picture shows a relatively stable small business jobs market, Oregon businesses are bracing for increased costs and an even less competitive economic environment. The transportation tax and fee increases passed by the State Legislature this week are going to have real and measurable costs for our local businesses and their customers. But before the bill has even been signed by the governor, legislators in Salem are already dreaming up the next big tax increase – this time a bill to ‘disconnect’ from the pro-small business provisions of the federal tax bill that passed over the summer.”
NFIB’s Jobs Report 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
“Main Street job openings remain above their historical average, with owners reporting few qualified applicants. While a recession appears unlikely, small business owners continue to experience economic uncertainty as many owners continue to grapple with labor imbalances.”
Highlights from the Latest NFIB Jobs Report
- Twenty-nine percent of owners reported few qualified applicants for their open positions and 21% reported none.
- A seasonally adjusted net 16% of owners plan to create new jobs in the next three months, up 1 point from August and the fourth consecutive monthly increase. Hiring plans are at their highest level since January.
- Seasonally adjusted, a net 31% of small business owners reported raising compensation in September, up 2 points from August. A net 19% (seasonally adjusted) plan to raise compensation in the next three months, down 1 point from August.
