Small business owners in Oregon and across the country are finding it somewhat easier to fill open positions, according to the latest monthly Jobs Report from the National Federation of Independent Business (NFIB). The report shows that 33% of small business owners nationwide had job openings they could not fill in July. This figure is down three points from June and represents the lowest level since December 2020, though it remains above the historical average of 25%.
Anthony Smith, NFIB Oregon State Director, commented on the findings: “It’s good news that nationally, small business owners are starting to have an easier time filling their open positions, but we’ll need to keep an eye on what they’re telling us about their present and future hiring plans – which seem to be holding steady for now. If circumstances change and the reason they aren’t struggling to fill vacant positions is that those jobs don’t exist anymore, that’s going to be a problem, especially here in Oregon where significant layoffs have been in the news recently and the state’s unemployment rate has been steadily creeping up for the last several months.”
The NFIB Jobs Report surveys its members nationwide rather than by individual states. Most NFIB member businesses employ between one and nine people and typically report annual gross sales of around $500,000.
Bill Dunkelberg, Chief Economist at NFIB, said: “The challenge of finding qualified workers is easing overall but still remained significant for many small business owners in July. The easing labor market pressures are also reflected in fewer firms raising compensation.”
The report highlighted that job openings were most common in construction, wholesale, and transportation industries. Openings were lowest in finance and agriculture. A net 14% of owners plan to create new jobs over the next three months—a slight increase from June—remaining above historical averages. Meanwhile, a net 27% reported raising compensation during July (down six points from June), with a net 17% planning further increases over the next quarter. Labor costs as a top concern decreased slightly as well.
For ongoing updates on small business issues in Oregon, readers can visit www.nfib.com or follow @NFIB_OR on X.
NFIB has represented small and independent businesses for more than 80 years through advocacy at both national and state levels.
