Newly released small business survey data shows that those businesses cite the labor market as their top concern.
The National Federation of Independent Businesses released a survey of small businesses which found that the labor market is their top concern, with 43% of small businesses saying they have job openings they cannot fill.
“The labor force participation rate remains below pre-COVID levels, which is contributing to the shortage of workers available to fill open positions,” NFIB Chief Economist Bill Dunkelberg said. “Small business owners are struggling to take advantage of current sales opportunities.”
The concern from small business owners comes as new federal hiring data released Friday showed that hiring has slowed. The U.S. Bureau of Labor Statistics released the data, which showed employers added 236,000 jobs in March, keeping unemployment at about 3.5%.“The labor force participation rate, at 62.6%, continued to trend up in March,” BLS said. “The employment-population ratio edged […]
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