Empire State Today

The National Federation of Independent Business (NFIB) has released its monthly jobs report, indicating a rise in job openings among small business owners that they could not fill in February. The percentage of small business owners reporting unfilled job openings increased to 38%, the highest since August 2024.

Ashley Ranslow, NFIB New York State Director, commented on the situation: “Many of our small business members tell us they are still struggling to hire and retain workers. These labor challenges, on top of rising costs and the steep tax and regulatory burdens in New York, make it harder for Main Street businesses to grow and succeed. Our small business members are concerned about the proposals being considered in Albany that will ultimately exacerbate their hiring difficulties. This report underscores the need for lawmakers to take action to improve New York’s affordability and competitiveness, not worsen it.”

In February, 53% of small business owners nationwide reported hiring or attempting to hire, a slight increase from January. However, 48% of these owners reported encountering few or no qualified applicants for their open positions. Specifically, 27% noted few qualified applicants while 21% reported none.

Job openings were notably high in retail, construction, and manufacturing sectors but low in agriculture and finance sectors. Construction sector job openings saw a minor increase from last month but were down compared to the previous year.

There was an increase in demand for skilled workers with 31% having such openings (up two points), while unskilled labor openings rose by three points to 13%.

Labor quality as a top operating problem increased slightly to 19%. Labor costs as a primary concern rose three points from January to reach 12%, nearing the highest level recorded since December 2021.

A net 33% of small business owners raised compensation in February, consistent with January figures. Looking ahead, a net 18% plan compensation increases over the next three months, marking a decrease from January.

For more information on NFIB's advocacy efforts for small businesses across America since its founding in 1943, visit nfib.com.