Report: Record-High Unfilled Job Openings in May

(photo courtesy of the NFIB)

A monthly jobs report from the National Federation of Independent Businesses shows a record-high 48% of small business owners in May reported unfilled job openings. The NFIB says May is the fourth consecutive month of record-high readings for unfilled job openings and is 26 points higher than the 48-year historical reading of 22%.

“Unfortunately, this is another new and bad record for small business owners,” said NFIB State Director in Indiana Barbara Quandt. “Thank goodness that the federal unemployment benefits end here in Indiana on June 19th. The free government checks are a barrier that has been hindering our job creating small business owners from recovering from this devastating pandemic. The $300 a week federal unemployment benefits are keeping Indiana workers at home. The cost of living here in the Midwest is much cheaper than in California and New York. Hoosiers are making more staying at home than going back to work.”

Quandt says the survey sends a strong message from small business owners.

“Nearly half are still having trouble finding qualified workers,” said Quandt. “Until this changes, consumers will face higher costs at small businesses, which are being forced to offer higher wages to try and fix the shortage problem.”

According to the NFIB’s report, 61% of owners reporting hiring or trying to hire in May.

Small business owners continue to report finding qualified employees remains a problem with 93% of owners hiring or trying to hire reported few or no “qualified” applications for the positions they were trying to fill in May. The report indicates 32% of owners reported few qualified applicants for their positions and 25% reported none.

You can connect to the full report by clicking here.