Job Openings at U.S. Small Businesses Increase to Fresh Record

© Reuters.

(Bloomberg) — U.S. small-business owners reported a record share of unfilled positions in May, and more firms are boosting wages to attract workers, the National Federation of Independent Business said Thursday.

Some 48% of firms had unfilled positions last month, a fourth consecutive record, the NFIB said in a report published Thursday. A total of 34% of small-business owners said they raised pay, the largest share in a year, and more indicated they plan to raise compensation in the next three months.

“Owners are offering higher wages to try to remedy the labor shortage problem,” Bill Dunkelberg, the NFIB’s chief economist, said in a statement. “Ultimately, higher labor costs are being passed on to customers in higher selling prices.”

Some 93% of business owners reported few or no qualified applications for positions they need to fill. Within construction, 66% of respondents reported few or no qualified job seekers, up from 58% a month earlier.

(Adds graphic)

©2021 Bloom

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

READ  Biden's Covid Relief Plan Could Help End the GameStop Frenzy



Please enter your comment!
Please enter your name here