JEFFERSON CITY, Mo. — NFIB’s February jobs report found that 38 percent (seasonally adjusted) of small business owners reported job openings they could not fill in February, up three points from January and the highest reading since August 2024. A seasonally adjusted net 15 percent of owners plan to create new jobs in the next three months, down three points from January.
Although state-specific data is unavailable, NFIB Missouri State Director Brad Jones said, “The ongoing worker shortage has deterred small business optimism as owners continue to struggle to hire for their open positions. This report highlights the importance of the Missouri Senate passing HB 269, legislation that helps parents access affordable childcare and re-enter the job market. Small business owners appreciate efforts from lawmakers to strengthen our workforce and bolster the economy.”
Overall, 53 percent of small business owners reported hiring or trying to hire in February, up one point from January. Forty-eight percent (89 percent of those hiring or trying to hire) of owners reported few or no qualified applicants for the positions they were trying to fill. Twenty-seven percent of owners reported few qualified applicants for their open positions and 21 percent reported none.
Job openings were the highest in the retail, construction, and manufacturing sectors, and the lowest in the agriculture and finance sectors. Job openings in construction were up one point from last month, but down seven points from the prior year.
Thirty-one percent have openings for skilled workers (up two points) and 13 percent have openings for unskilled labor (up three points).
The percent of small business owners reporting labor quality as their top operating problem rose one point from January to 19 percent. Labor costs reported as the single most important problem for business owners rose three points from January to 12 percent, only one point below the highest reading of 13 percent reached in December 2021. The last time labor costs were ranked this high was February 2023.
Seasonally adjusted, a net 33 percent of small business owners reported raising compensation in February, unchanged from January. A net 18 percent (seasonally adjusted) plan to raise compensation in the next three months, down two points from January.
Job Creation Weakens On Main Street
For 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is nonprofit, nonpartisan, and member-driven. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses, and remains so today. For more information, please visit nfib.com.