Jobs report highlights need for tax cuts in Missouri

JEFFERSON CITY (September 1, 2022) – Small business owners nationwide continue to hire, but 49% (seasonally adjusted) of owners reported job openings they were unable to fill during the current period, according to the NFIB’s monthly employment report, released today.

“The labor market continues to be a significant challenge for small business owners,” said NFIB Chief Economist Bill Dunkelberg. “The owners are managing several economic headwinds and continue to make business adjustments to mitigate lost sales opportunities due to staffing shortages. Nearly half of owners increase compensation to attract workers for their vacancies. »

Small business owners’ plans to fill vacancies remain high, with a seasonally adjusted net rate of 21% expecting to add new jobs over the next three months, up one point from July. A net percentage of 46% (seasonally adjusted) said they had increased their compensation, down two points from July and four points below the record set in January. A net 26% plan to increase compensation over the next three months.

State-specific data is not available, but NFIB Missouri Director Brad Jones said, “Our small business members are paying more and still struggling to fill positions. Without enough people to work, many small businesses are reducing their opening hours. Hopefully the legislature can ease at least some of the financial pressure on Missouri job creators by agreeing to some level of tax relief during this month’s special session.

Overall, 63% of landlords nationwide said they had hired or attempted to hire in August. Of those trying to hire, 89% of owners said there were few or no qualified candidates for the positions they were trying to fill. Thirty-one percent of owners reported few qualified candidates for their vacancies and 26% reported none.

Forty-one percent of owners have openings for skilled workers and 24% have openings for unskilled labor. Sixty-six percent of job openings in the construction industry are for skilled workers, up six points from July. Seventy-one percent of construction companies reported few or no qualified applicants, up four points.

Click here to see the full report.

About the NFIB

For nearly 80 years, the NFIB has been representing the interests of American independent small business owners, both in Washington, DC and in all 50 state capitals. The NFIB is nonprofit, nonpartisan, and member-driven. Since our founding in 1943, NFIB has focused exclusively on small independent businesses, and remains so today. For more information, visit nfib.com.

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