The National Federation of Independent Business (NFIB) has released its latest monthly Jobs Report, indicating a weakening in job creation for February. This is the highest reading since last August, according to the report.
Michael Iosua, NFIB’s state director in Hawaii, emphasized two key actions to avoid setbacks in small business economic recovery. “One is Congress must prevent the 20% Small Business Deduction from expiring at the end of the year,” Iosua stated. “The other is the Hawaii Legislature should support small businesses in the state by reducing the number of laws that cause additional operating costs to businesses.”
NFIB Chief Economist Bill Dunkelberg noted hiring challenges among small businesses: “Over half of Main Street firms reported hiring or trying to hire in February, but with little success. Meanwhile, consistent compensation increases continue to put pressure on small business owners as they look for qualified workers.”
Key points from the Jobs Report include:
– 38% of small business owners reported unfilled job openings in February, an increase from January and marking the highest level since August 2024.
– The sectors with the most job openings were retail, construction, and manufacturing; agriculture and finance had fewer openings.
– Labor quality as a top operating problem increased slightly to 19%, while labor costs rose three points from January to 12%.
The NFIB’s survey does not break down data by state and typically includes members employing between one and nine people with gross sales around $500,000 annually.
For further information on Hawaii’s small-business climate, visit www.nfib.com or follow NFIB Hawaii on X @NFIB_HI.
