From the National Federation of Independent Business (NFIB) Jobs Report released today, 33% of small business owners reported job openings they could not fill in November, an increase from October and the first such rise since June. This figure remains higher than the historical average of 24%.
Michael Iosua, NFIB Hawaii State Director, commented on the report: “Like their counterparts across the nation, Hawaii’s small business owners are constantly making calculations on how to keep their enterprises solvent into the foreseeable future and are heavily impacted by the state legislature. It’s not at all a stretch of the imagination to say that decisions on hiring, cutting back hours, or laying off workers are in part a direct result on decisions made by lawmakers. So, as a start, it would be good to hear from the Hawaii Legislature that no laws with additional employment mandates will be imposed upon small businesses this year.”
The NFIB Jobs Report is based on a national survey among its members and does not provide state-level breakdowns. The typical NFIB member employs between one and nine people and has gross sales of about $500,000 annually.
Bill Dunkelberg, Chief Economist for NFIB, stated: “The economy has continued to grow steadily despite the recent government shutdown. On Main Street, job growth continues to be constrained by a lack of qualified employees.”
According to highlights from the latest report:
– The percentage of small business owners planning to hire reached levels last seen in December 2024.
– In November, 21% identified labor quality as their main concern—a decrease from October.
– Labor costs remained steady as a primary issue for 8% of respondents.
– A net 26% reported raising compensation in November compared to October; plans for further increases rose slightly.
For more information about developments affecting Hawaii’s small businesses visit www.nfib.com or follow NFIB Hawaii on X @NFIB_HI.