A “record share” of U.S. small businesses had unfilled positions in August, Bloomberg News reported on Thursday.
According to the report, which cited National Federation of Independent Business (NFIB) data, 50 percent of firms had job openings that could not be filled last month, which was “up 1 percentage point from July and the largest share in monthly data back to 1986.”
A “record” number of small-business owners — 41 percent — also said they raised pay.
“Owners are raising compensation in an attempt to attract workers and these costs are being passed on to consumers through price hikes for goods and services, creating inflation pressures,” Bill Dunkelberg, NFIB’s chief economist, said in a statement to Bloomberg News.
Breaking records again, 32 percent of small business owners plan to add to payrolls within the coming months and the number “planning to raise worker pay remained near a series high.”
The report coincides with the Labor Department’s monthly labor assessment, which was released on Friday, showing President Joe Biden’s disastrous economy. Just 235,000 jobs were created in August, which was below forecasted numbers.
“Employment in leisure and hospitality, which had been averaging 350,000 jobs over the last six months, did not grow at all. Bars and restaurants shed 42,000 jobs. Retail also contracted, losing 29,000 jobs,” Breitbart News reported.
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