Summary: Small business owners curb their hiring enthusiasm because of economic uncertainty. Main Street employers’ hesitation to hire is latest economic red flag as uncertainty has pushed small business outlook downward.
- 34% of small businesses reported job openings they could not fill in April (6 points lower than March and lowest percentage in 3 years).
- 56% of small businesses hired or tried to hire in March (3 points higher than March). Of those hiring, 85% of those hiring reported few or no qualified job applicants (down 2 points from March).
- 13% of small business owners are planning to create new jobs in the next 3-months (1 point higher than March).
- 33% of small businesses raised wages in April (down 5 points from March) and 17% plan on raising compensation in the next 3 months (down 2 points from March and the lowest percentage in 3 years).
- 29% of small businesses have openings for skilled workers (down 4 points from March) and 13% have openings for unskilled workers (unchanged for past 3 months).
- 57% of small businesses in construction have a job opening they can’t fill (1 point higher than March)
Learn more about this data from National Federation of Independent Business (NFIB) April Jobs Report, published May 1.