(The Center Square) \u2013 Newly released small business survey data shows that those businesses cite the labor market as their top concern.<\/p>\n\n\n\n
The National Federation of Independent Businesses released a survey of small businesses which found that the labor market is their top concern, with 43% of small businesses saying they have job openings they cannot fill.<\/p>\n\n\n\n
\u201cThe labor force participation rate remains below pre-COVID levels, which is contributing to the shortage of workers available to fill open positions,\u201d NFIB Chief Economist Bill Dunkelberg said. \u201cSmall business owners are struggling to take advantage of current sales opportunities.\u201d<\/p>\n\n\n\n
The concern<\/strong><\/a> from small business owners comes as new federal hiring data<\/strong><\/a> released Friday showed that hiring has slowed. The U.S. Bureau of Labor Statistics released the data, which showed employers added 236,000 jobs in March, keeping unemployment at about 3.5%.<\/p>\n\n\n\n \u201cThe labor force participation rate, at 62.6%, continued to trend up in March,\u201d BLS said. \u201cThe employment-population ratio edged up over the month to 60.4%. These measures remain below their pre-pandemic February 2020 levels (63.3& and 61.1%, respectively).\u201d<\/p>\n\n\n\n NFIB, which boasts thousands of members, has also become outspoken on the Biden administration\u2019s policies, pushing back on Biden\u2019s environmental regulations and tax increases in a time when businesses are already struggling to deal with elevated inflation.<\/p>\n\n\n\n The small business group launched an ad campaign to push back on tax increases on small businesses proposed in President Joe Biden\u2019s latest budget.<\/p>\n\n\n\n \u201cMain Street cannot afford these new tax increases,\u201d said NFIB President Brad Close. \u201cAs expectations for better business conditions remain low, while high inflation and worker shortages continue to plague Main Street, these proposals would hurt small businesses\u2019 ability to recover, grow, and create jobs. The White House should instead focus on promoting economic growth by providing certainty, such as permanently extending the Small Business Deduction.\u201d\u00a0<\/p>\n\n\n\n