11.11.20 – TOPEKA, Kan. (WIBW)
The National Federation of Independent Businesses has found positives from the results of the election on Nov. 3.
The National Federation of Independent Businesses says its October Jobs Report shows small businesses are hiring employees as they report a historically high level of job openings. It said overall, 55% of owners reported hiring or trying to hire in October, down one point from September. It said 33% of all owners reported job openings that could not be filled in the current period, down three points from September’s report.
“Here in Kansas, our entrepreneurs are having a hard time finding qualified workers,” said NFIB State Director in Kansas, Dan Murray. “It couldn’t come at a worse time. Our small business owners are focusing on re-opening their businesses and recovering from this unprecedented economic and health pandemic. As we all know, we need small businesses to keep Kansas’ economy running.
According to the NFIB, election night was good for Kansas small businesses. It said three of the four of its endorsed candidates running for Congress won their races, including Tracey Mann, Jake LaTurner and Ron Estes. It said it endorsed Roger Marshall, who won his U.S. Senate race. It said on the state level 83% of its endorsed candidates won their races. It said the Senate and House pro-business majority grew in both chambers.ADVERTISEMENT
“Small business owners here in Kansas should feel positive about the way election night panned out. Kansas is sending three small business-friendly candidates to the Capitol in D.C. where they have promised to stand up for small business issues. What small business needs right now is another round of Paycheck Protection Program funding, and we urge Congress to work together to make sure small business relief is at the top of their list,” said Dan Murray.
The NFIB said small businesses increased employment by 0.1 workers per firm on average over the past handful of months, an increase of 0.09 workers per firm from September. It said 11% of owners reported increasing employment an average of 0.3 workers per firm, up one point, and 14% reported reducing employment an average of 3.8 workers per firm, down 2 points from September. It said a seasonally adjusted net 18% of owners are planning to create new jobs in the next 3 months, down five points from September, but historically a very strong reading.
According to the NFIB, finding qualified employees is still a problem for small businesses with 87% of those trying to hire reporting few or no qualified applicants for the positions they were looking to fill. It said 28% of owners reported few qualified applicants for their open positions and 20% reported none.
The NFIB said a net 23% of owners reported raising pay and a net 18% plan to do so in the coming months, up two points from September. It said 8% of owners listed labor costs as their top business problem, but 21% said that labor quality was their top concern, exceeding taxes, regulations and weak sales.ADVERTISEMENThttps://8ab82dceb698490161d3634b051566f6.safeframe.googlesyndication.com/safeframe/1-0-37/html/container.html
According to the NFIB, 29% of owners reported opening for skilled workers and 14% have job openings for unskilled labor. It said 44% of the job openings in the construction industry are for skilled workers. It said 58% of construction firms reported few or no qualified applicants for their job openings and 35% listed the shortage of qualified labor as their top business issue.
To view the entire report, click here.
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