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Expectations are for the Labor Department to report another sluggish month of U.S. job creation on Thursday. Among small firms, the good-but-not great job market continues, but at least June brought reports of a few more companies handing out raises. That’s according to the latest monthly employer survey from the National Federation of Independent Business, due out later today. NFIB Chief Economist William Dunkelberg reports on the small firms participating in the survey: NFIB’s June Small Business Economic
Trends survey found that 36 percent
(seasonally adjusted) of all owners reported job openings they could not fill in the current period, up 2 points from May. Thirty percent have openings for skilled workers (unchanged), and 13 percent have openings for unskilled labor (unchanged for the fifth consecutive month). Job openings were the highest in the construction, manufacturing, and
transportation industries, and the lowest in finance and agriculture. Job openings in construction were up 5 points from last month, and up 2 points from June 2024. A seasonally adjusted net 13 percent of owners plan to create new jobs in the next three months, up 1 point from May. Job creation plans remain weak compared to recent history. The NFIB economist finds that after May’s notable decline in the number of employers handing out raises, the number popped back up in June. It seems that bosses were paying up last month for the able and reliable workers, who remain hard to find. According to NFIB:
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