Show-Me State Times

NFIB's December jobs report reveals that 35% of small business owners reported unfilled job openings, a slight decrease from the previous month. Additionally, 29% of owners raised compensation, marking a drop from November and the lowest since March 2021.

Bill Dunkelberg, NFIB Chief Economist, commented on the findings: "Finding qualified workers remained a major headwind for stronger job growth on Main Street in December. In the meantime, compensation increases have softened among small businesses but remained solid as the year came to an end."

Brad Jones, NFIB State Director, noted the challenges faced by Missouri businesses: “Hiring qualified workers remains a difficult task for Main Street. That challenge has only been exacerbated as Prop A took effect on January 1. As lawmakers consider and debate labor policy proposals, they should keep these challenges in mind and work to promote greater economic opportunity for Missourians.”

The report shows that 24% plan to raise compensation in the coming months, while labor costs remain a significant concern for 11% of business owners. Labor quality issues persist with 19% citing it as their top problem.

Despite these challenges, there is optimism with a net 19% planning to create new jobs soon. Overall hiring efforts were steady at 55%, yet many struggled to find suitable candidates—49% reported few or no qualified applicants.

Job openings are particularly high in transportation, construction, and manufacturing sectors but lower in agriculture and finance. Construction sector openings dropped significantly compared to last year.