Record Number of Businesses Struggle To Fill Jobs
June 8, 2021—Nearly half of U.S. small business owners reported unfilled job openings in May, Reuters reported.
The National Federation of Independent Business said in its monthly jobs report that 48 percent of small business owners reported unfilled job openings in May on a seasonally adjusted basis, up from 44 percent in April. It’s now the fourth consecutive month of record-high readings as finding qualified applicants remains a lingering challenge.
“Small business owners are struggling at record levels trying to get workers back in open positions,” NFIB Chief Economist Bill Dunkelberg says in a statement. “Owners are offering higher wages to try to remedy the labor shortage problem. Ultimately, higher labor costs are being passed on to customers in higher selling prices.”
The report also showed that 93 percent of owners looking to hire reported few or no “qualified” applications for the positions they were trying to fill last month.