FOR IMMEDIATE RELEASE 

ALBANY, NY (March 10, 2025) — The National Federation of Independent Business (NFIB) released its monthly jobs report, which found that 38% (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% of owners plan to create new jobs in the next three months, down three points from January.

NFIB New York State Director Ashley Ranslow says the report reflects what’s happening in the Empire State: “Many of our small business members tell us they are still struggling to hire and retain workers. These labor challenges, on top of rising costs and the steep tax and regulatory burdens in New York, make it harder for Main Street businesses to grow and succeed. Our small business members are concerned about the proposals being considered in Albany that will ultimately exacerbate their hiring difficulties. This report underscores the need for lawmakers to take action to improve New York’s affordability and competitiveness, not worsen it.”

Overall, 53% of small business owners nationwide reported hiring or trying to hire in February, up one point from January. Forty-eight percent (89% 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% 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% 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%. Labor costs reported as the single most important problem for business owners rose three points from January to 12%, only one point below the highest reading of 13% reached in December 2021. The last time labor costs were ranked this high was February 2023.

Seasonally adjusted, a net 33% of small business owners reported raising compensation in February, unchanged from January. A net 18% (seasonally adjusted) plan to raise compensation in the next three months, down two points from January.

Click here to view the entire NFIB Jobs Report.

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For over 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.