COLUMBUS, Ohio – NFIB’s December jobs report found that 35% (seasonally adjusted) of small-business owners reported job openings they could not fill in December, down 1 point from November.
Seasonally adjusted, a net 29% of small-business owners reported raising compensation in December, down 3 points from November and the lowest reading since March 2021.
Although state-specific data is unavailable, NFIB Ohio State Director Chris Ferruso said, “Hiring qualified workers remains challenging for Ohio’s small employers. As lawmakers return to Columbus to begin the 136th session, it’s important they keep these challenges in mind when considering how policies affect small businesses.”
A net 24% (seasonally adjusted) plan to raise compensation in the next three months, down 4 points from November’s highest reading of this year. Labor costs reported as the single most important problem for business owners was unchanged from November at 11%, only 2 points below the highest reading of 13%, reached in December 2021.
The percent of small-business owners reporting labor quality as their top operating problem was unchanged from November at 19%.
A seasonally adjusted net 19% of owners plan to create new jobs in the next three months, up 1 point from November.
Overall, 55% of small-business owners reported hiring or trying to hire in December, unchanged from November. Forty-nine percent of owners (89% of those hiring or trying to hire) reported few or no qualified applicants for the positions they were trying to fill. Twenty-eight percent of owners reported few qualified applicants for their open positions, and 21% reported none.
Twenty-nine percent have openings for skilled workers (down 1 point), and 13% have openings for unskilled labor (unchanged).
Job openings were the highest in the transportation, construction and manufacturing sectors, and the lowest in the agriculture and finance sectors. Job openings in construction were down 13 points from last month and down 17 points from the prior year, with 41% reporting an open position they can’t fill.
The full report can be viewed HERE.