Unfilled job openings remain a significant challenge for small businesses across the country, as reported in the latest monthly Jobs Report from the National Federation of Independent Business (NFIB). As of April, 34% of small business owners reported being unable to fill positions, a statistic seasonally adjusted for clarity.
In Alaska, businesses are facing added pressure with the impending compliance requirements of Measure 1, set to take effect on July 1. To prepare, NFIB Alaska hosted a webinar on May 1 to inform its members and other small business owners about the necessary compliance steps. A recording of this session will be available on the NFIB website.
NFIB’s Jobs Report is released monthly and provides a national perspective from its small-business owner members. These businesses typically employ between one to nine people, with gross sales averaging around $500,000 annually.
Bill Dunkelberg, NFIB Chief Economist, commented on the current labor market situation: “Small business owners remained open to hire and grow their workforce in April. While the percent of open positions decreased a bit, Main Street firms are still struggling to find qualified applicants for their plentiful open positions.”
The report includes specific sector insights such as construction, transportation, and manufacturing, where job openings were most prevalent. Notably, job openings in the wholesale industry jumped 16 points from the previous month, reaching 36%.
There was also a noted increase in hiring intentions, with a seasonally adjusted net 13% of business owners planning to create new jobs in the coming three months, marking a slight increase from March.
Compensation trends also shifted with a net 33% of small business owners having raised wages in April, a decrease of five points from March. Additionally, a net 17% plan further increases in the near term, which is the lowest figure since March 2021.
For ongoing updates on Alaska small-business news, NFIB encourages following their official website and social media channels.
NFIB has been representing the interests of American small and independent businesses for over 80 years, advocating at both national and state levels. The organization remains committed to supporting small businesses.
