NFIB Jobs Report: Small Business Openings Rebound

The Press-Republican, Plattsburgh, N.Y.
(TNS)

ALBANY — The June Jobs Report of the National Federation of Independent Business shows the Small Business Employment Index remained essentially flat, registering 100.2 in June after measuring 100.3 in May.

This is the fourth consecutive month the index declined.

The current reading is below the 2025 average of 101.2 but still slightly above the historical average of 100.

In June, 32% (seasonally adjusted) of small business owners reported job openings they could not fill, up 3 points from May’s lowest level since May 2020. Twenty-seven percent have openings for skilled workers, remaining unchanged, and 12% have openings for unskilled labor, up 3 points.

“Main Street job openings in New York and nationwide are starting to pick up after a decline in May,” NFIB New York State Director Ashley Ranslow said in a press release. “However, the Jobs Report shows that while more small businesses are looking to hire, many owners are still having difficulty finding workers.

“This tracks with the experience of small business owners in New York, who also contend with onerous tax and regulatory burdens in the state.”

A seasonally adjusted net 11% of owners plan to create new jobs in the next three months, up 2 points from May. Plans to hire are currently at its historical average of a net 11%.

Overall, 62% of owners reported hiring, or trying to hire, in June, up 7 points from May. Fifty-one percent of owners (84% of those hiring or trying to hire) reported few or no qualified applicants for the positions they were trying to fill, up 5 points. Twenty-seven percent reported few qualified applicants, up 3 points, and 24% reported none, up 2 points.

In June, 19% of small business owners cited “labor quality or availability” as their single most important problem, up 6 points from May’s lowest level since December 2016.

While reports of labor quality or availability as the single most important problem rose in June, reports of labor costs eased. Eight percent of business owners reported labor costs as their single most important problem, down 6 points from May’s historic high reading.

In June, both labor compensation measures declined. A seasonally adjusted net 28% reported raising compensation, down 3 points from May and the lowest reading of the year. A net 17% (seasonally adjusted) plan to raise compensation in the next three months, down 1 point from May.

To view the NFIB Jobs Report, visit here.

Photo credit: Freepik

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