In November, 33% of small business owners reported job openings they could not fill, according to the latest jobs report from the National Federation of Independent Business (NFIB). This figure is up one point from October and marks the first increase since June. The percentage remains above the historical average of 24%. Openings for skilled workers decreased by two points to 26%, while openings for unskilled labor rose by one point to 12%.
Chief Economist Bill Dunkelberg commented on the findings: “The economy has continued to grow steadily despite the recent government shutdown. On Main Street, job growth continues to be constrained by a lack of qualified employees.”
A seasonally adjusted net 19% of owners plan to create new jobs in the next three months, an increase of four points from October and the highest level seen this year. The last time hiring plans were at this level was in December 2024. Businesses continue to show interest in hiring but face challenges in finding suitable candidates.
Fifty-six percent of owners reported hiring or attempting to hire during November, unchanged from October. Of those, half said they had few or no qualified applicants for their open positions—an increase of one point. Thirty percent noted there were few qualified applicants (down one point), while 20% said there were none (up two points). Over the past year, more owners have reported having “few” rather than “none” when it comes to qualified applicants.
Labor quality was cited as the most important problem by 21% of small business owners in November, a decrease of six points that reverses most of October’s sudden rise. Labor costs remained steady as a primary concern for 8% of respondents.
Compensation trends remained stable with a seasonally adjusted net 26% reporting increased pay in November, unchanged from October. A net 24% plan to raise compensation over the next three months—up five points from October and matching levels last seen in December 2024.
For further details and access to the full report, visit NFIB Jobs Report.
