Updated
Updated · krmsradio.com · Jun 6NFIB Small Business Employment Index Slips to 100.3 as Job Openings Fall to 29%
3 articles · Updated · krmsradio.com · Jun 6Summary
- 100.3 was the NFIB Small Business Employment Index reading in May, down from 100.4 in April and marking a third straight monthly decline.
- 29% of small business owners said they had jobs they could not fill, down 5 points from April and the lowest share since May 2020.
- 27% reported openings for skilled workers and 9% for unskilled labor, both lower than a month earlier.
- 9% net of owners planned to create new jobs over the next three months, down 4 points from April and also the weakest reading since May 2020.
- The May index now sits below the 2025 average of 101.2, though it remains slightly above the historical average of 100.0.
Insights
Job openings are at a six-year low, so why do many business owners remain highly optimistic about growth? As hiring cools but new startups boom, is the American dream shifting from employment to entrepreneurship? With a shrinking workforce and rising costs, can AI solve America's long-term labor shortage?