NFIB’s December jobs report found that 33% (seasonally adjusted) of small business owners reported job openings they could not fill in December, unchanged from November.
Unfilled job openings remain above the historical average of 24%. Twenty-eight percent have openings for skilled workers (up 2 points), and 10% have openings for unskilled labor (down 2 points).
Many small businesses across New Jersey are still struggling to find and keep qualified workers, said NFIB State Director Eileen Kean: “Main Street businesses are ready to hire, but many of them still can’t find enough workers. The tight labor market makes it hard for many small businesses to provide the service and support their customers need.”
A seasonally adjusted net 17% of owners plan to create jobs in the next three months, down 2 points from November.
Overall, 53% of owners reported hiring or trying to hire in December, down 3 points from November. Forty-eight percent of owners (91% of those hiring or trying to hire) reported few or no qualified applicants for the positions they were trying to fill (down 2 points). Twenty-five percent reported few qualified applicants (down 5 points), and 23% reported none (up 3 points).
In December, 19% of small business owners cited labor quality as their single most important problem, down 2 points from November. Labor costs, reported as the single most important problem by small business owners, rose 1 point to 9%.
Seasonally adjusted, a net 31% of small business owners reported raising compensation in December, up 5 points from November. A net 24% (seasonally adjusted) plan to boost compensation in the next three months, unchanged from November.
