Free Trial

MNI DATA IMPACT: US Small Business Struggling to Find Workers

MNI (Washington)
WASHINGTON (MNI)

More than half of U.S. small businesses were hiring new workers in October, and about nine in 10 said for a second month that qualified applicants are scarce, the National Federation of Independent Business reported Thursday.

Some 55% of small businesses were hiring, down 1 percentage point from September, according to the group's survey. About 90% of small businesses that were hiring in October said there were few or no qualified applicants, similar to the previous month.

"The large increase in the number of unemployed has done little to help small businesses improve the quality of their applicants," NFIB chief economist Bill Dunkelberg said in a statement.

Approximately 30% of business owners reported openings for skilled workers, down 3 percentage points from September, and another 14% said they had available jobs for unskilled workers, down 2 points.

Finding qualified workers is weighing most on the construction industry, according to NFIB. Nearly 60% of construction firms reported few or no qualified applicants for their available jobs and 35% said finding qualified labor was their top business problem.

MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.