If you’re finding it more difficult to hire new employees, you’re not alone. The National Federation of Independent Business (NFIB) recently released its monthly small business jobs report which found that the number of small businesses hiring or trying to hire new employees has increased to 63% in June, a 5% increase from May.
The report breaks it down further:
- 21% of owners cited the difficulty of finding qualified workers as their biggest problem
- 36% of all owners reported job openings they could not fill in the current period
- A net 31% of owners reported raising compensation
The industries that reported the most hiring in June are construction, manufacturing, and financial services.
“Right now, more firms are looking for workers than workers looking for a job,” said NFIB chief economist Bill Dunkelberg. “The competition for existing workers has tightened the labor market for both skilled and unskilled workers.”
If you’re looking to hire employees in those industries, you can expect that it might potentially take longer, or require other measures like increased employment incentives.