Small business owners in Washington and across the country continue to face challenges filling job openings, according to the latest monthly Jobs Report from the National Federation of Independent Business (NFIB). The report indicates that 32% of small business owners nationwide had positions they could not fill in August, a slight decrease from July. This is the first time since July 2020 that unfilled job openings have dropped below 32%.
Of those surveyed, 28% reported openings for skilled workers, while 13% had openings for unskilled labor. The percentage of skilled worker openings decreased by one point, and unskilled labor openings increased by one point compared to the previous month.
Patrick Connor, NFIB Washington State Director, commented on the findings: “The latest Jobs Report shows only glimmers of hope for the long-awaited recovery of the small business economy, but the real thing still seems distant. It will be interesting to see what this coming Tuesday’s release of the Small Business Optimism Index reveals. Last month’s showed some positive signs. It’s a pity that Congress has to do all the heavy lifting while the Washinton Legislature keeps adding weights.”
The NFIB Jobs Report is based on a national survey of its members. Most NFIB members employ between one and nine people and typically report annual gross sales around $500,000.
Bill Dunkelberg, NFIB Chief Economist, stated: “While the economy appears to be doing well, small businesses are scaling back on job openings. Small business owners with job openings are still looking for qualified applicants, many citing labor quality as their single most important problem.”
The report also notes that job openings were highest in construction, manufacturing, and transportation industries and lowest in wholesale and finance sectors. A net 15% of owners plan to create new jobs over the next three months—an increase for three consecutive months—and 29% reported raising compensation in August. Additionally, 20% plan to raise compensation in the coming three months.
Labor costs remain a concern but have slightly eased; only 8% cited it as their most significant issue—a decrease from July.
For more information about small-business news in Washington state or updates from NFIB Washington, visit www.nfib.com or follow @NFIB_WA on X or @NFIB.WA on Facebook.
