NFIB’s November jobs report found that 33% (seasonally adjusted) of small business owners reported job openings they could not fill in November, up 1 point from October and the first increase since June. Unfilled job openings remain above the historical average of 24%. Twenty-six percent have openings for skilled workers (down 2 points), and 12% have openings for unskilled labor (up 1 point).

The last time hiring plans reached this level was in December 2024. Firms remain interested in hiring but are finding it difficult to fill openings.

Overall, 56% of owners reported hiring or trying to hire in November, unchanged from October. Fifty percent of owners (89% of those hiring or trying to hire) reported few or no qualified applicants for the positions they were trying to fill (up 1 point). Thirty percent reported few qualified applicants (down 1 point), and 20% reported none (up 2 points). The last 12 months show a clear improvement in the hiring environment, with a growing percent reporting “few” relative to the percent reporting “none.”

In November, 21% of small business owners cited labor quality as their single most important problem, down 6 points erasing most of October’s sudden increase. Labor costs, reported as the single most important problem by small business owners, remained at 8%.

Seasonally adjusted, a net 26% of small business owners reported raising compensation in November, unchanged from October. A net 24% (seasonally adjusted) plan to raise compensation in the next three months, up 5 points from October. The last time plans to raise compensation were at this level was in December 2024.

Click here to view the entire NFIB Jobs Report

The full Small Business Economic Trends report will be released on Tuesday, December 9th.