Small businesses struggle to fill positions in tight labor market

  • 43% of small business owners reported unfilled job openings
  • Labor market remains tight on Main Street
  • 37% have openings for skilled workers
  • 18% have openings for unskilled labor
  • Construction firms still have unfilled positions
  • 67% of transportation firms have current job openings

According to the National Federation of Independent Business (NFIB), 43% of small business owners reported unfilled job openings, with 37% seeking skilled workers and 18% looking for unskilled labor. This trend has remained consistent over the past year, indicating a tight labor market on Main Street. Construction firms have seen a slight decrease in job openings due to rising mortgage rates, but many still have unfilled positions. In the transportation sector, a significant 67% of surveyed firms currently have job openings.

Public Companies:
Private Companies: undefined
Key People: William Dunkelberg (organization’s top economist)

Factuality Level: 7
Justification: The article provides specific data from the National Federation of Independent Business survey to support its claims about the number of unfilled job openings at small firms. The information is sourced and there is no obvious bias or opinion presented. However, the article does not provide any context or analysis of the data, making it difficult to fully evaluate the accuracy and significance of the findings.

Noise Level: 3
Justification: The article provides specific data from the National Federation of Independent Business survey on job openings at small firms. It mentions the percentage of owners reporting unfilled positions and provides information on skilled and unskilled labor openings. It also mentions the trend in construction job openings and the high number of job openings in the transportation sector. However, the article lacks analysis, context, and actionable insights. It simply presents the data without exploring the implications or potential solutions to address the issue of unfilled job openings.

Financial Relevance: No
Financial Markets Impacted: No

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article does not pertain to financial topics and does not describe any extreme events.

Reported publicly: www.wsj.com