Beaver State News

The National Federation of Independent Business (NFIB) released its latest Jobs Report, indicating a decline in job creation for February. According to the report, 38% of small business owners reported unfilled job openings, marking the highest figure since last August.

Anthony Smith, NFIB's state director for Oregon, emphasized the need for legislative action to sustain positive trends in the small business economy. "Two things need to happen if we are to keep the briefly positive news coming out of the small business economy from back-sliding," said Smith. He urged Congress to prevent the expiration of the 20% Small Business Deduction and called on the Oregon Legislature to dismiss certain proposals he views as detrimental.

The NFIB Jobs Report is a monthly national survey among its members who typically employ between one and nine people with annual gross sales around $500,000. The report highlighted that over half of Main Street firms attempted hiring in February but faced challenges in finding qualified candidates.

Bill Dunkelberg, NFIB Chief Economist, noted ongoing compensation increases are pressuring small businesses seeking skilled workers. "Over half of Main Street firms reported hiring or trying to hire in February, but with little success," Dunkelberg stated.

The report detailed sector-specific trends: retail, construction, and manufacturing saw high job openings while agriculture and finance experienced fewer vacancies. Labor quality concerns rose slightly among business owners as did labor costs concerns.

Despite these challenges, a net 33% of small business owners raised compensation in February with plans for further increases showing a slight decrease from January figures.

For more information about NFIB's advocacy efforts or to stay updated on Oregon's small-business news, visit their website or follow them on social media platforms.