Small businesses are struggling to hire owing to a shortage of qualified applicants, while also being challenged by inflation, according to reports by the National Federation of Independent Business (NFIB).
Forty-three percent of owners had job openings they could not fill in March, on a seasonally adjusted basis, said NFIB’s March 2023 Jobs Report. Meanwhile, 34 percent had openings available for skilled workers and 19 percent for unskilled workers.
“The labor force participation rate remains below pre-COVID levels, which is contributing to the shortage of workers available to fill open positions,” said NFIB chief economist Bill Dunkelberg. “Small-business owners are struggling to take advantage of current sales opportunities.”…