NFIB Research Center Executive Director Holly Wade recently spoke with Brad Smith of Yahoo! Finance regarding the April Jobs Report and the current challenges small businesses face. During the discussion, Wade highlighted issues such as labor shortages and stressed the need for Congress to make the 20% Small Business Tax Deduction permanent.
Wade explained, “So, the labor shortage for a number of industries is still historically very high. And, that includes construction, transportation, manufacturing. They’ve been having a hard time finding and attracting qualified applicants for historically high levels of job openings over the last number of years, but it has continued into 2025 and there doesn’t seem to be much sight at the end of the road for them. Unfortunately, they have a lot of demand, they have a lot of work on the books. It’s just filling those positions is becoming very difficult for them.”
She further emphasized that small business owners are seeking stability in tax provisions set to expire at the end of 2025. “[Small business owners] are looking for permanency for those [Tax Cuts and Jobs Act] provisions that are set to expire at the end of 2025,” Wade stated. She noted that maintaining these deductions would help businesses reinvest profits amid fluctuating economic conditions and inflation concerns.
For more than eight decades, NFIB has advocated on behalf of America's small and independent business owners nationwide. As a nonprofit organization founded in 1943, NFIB remains dedicated to supporting these enterprises today.
