Last Frontier News

The National Federation of Independent Business (NFIB) has released its latest monthly Jobs Report, highlighting ongoing challenges faced by small business owners in finding employees. This issue continues to be a significant concern for entrepreneurs on Main Street.

The impact of Measure 1, passed in November, on this situation remains uncertain. Meanwhile, NFIB is assisting its members with compliance regarding the new requirements.

The report provides a national overview of NFIB-member small-business owners without state-specific data. Typically, an NFIB member employs around ten people and reports gross sales of approximately $500,000 annually. The Small Business Optimism Index will be released by NFIB on January 14.

According to Bill Dunkelberg, NFIB Chief Economist, "Finding qualified workers remained a major headwind for stronger job growth on Main Street in December." He also noted that compensation increases have softened but remain solid as the year concluded.

Key findings from the report include:

- 35% of small business owners reported unfilled job openings in December, a slight decrease from November.

- A net 29% reported raising compensation in December, marking the lowest level since March 2021.

- A net 19% plan to create new jobs within three months.

- Job openings were most prevalent in transportation, construction, and manufacturing sectors and least common in agriculture and finance sectors.

- Construction sector job openings dropped significantly compared to last month and last year.

For further updates on Alaska's small-business news or information about NFIB's advocacy efforts for independent businesses nationwide, visit their website or follow them on social media platforms.