In the latest monthly Jobs Report from the National Federation of Independent Business (NFIB), 32% of small business owners reported unfilled job openings for August, a decrease of 1 point from July. This marked the first instance since July 2020 that unfilled job openings fell below 32%. The NFIB Jobs Report is a national survey of small business owners who typically employ between one and nine people with an average annual gross sales of around $500,000.
Key findings:
- Job openings are highest in construction, manufacturing, and transportation, with the lowest in wholesale and finance.
- A seasonally adjusted net of 15% of owners intend to create new jobs in the next three months, reflecting a 1-point increase from July.
- In August, a net 29% of small business reported raising compensation.
