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NFIB Weekly News Business Climate

Report: Share Of Small-Business Owners Raising Compensation Highest Since 1986. (06/05/2018)

Bloomberg News (5/31, Golle) reported that according to a new report from NFIB, released last Thursday, “more US companies are finally starting to boost wages as they grow more desperate to fill positions with qualified personnel in a tightening labor market.” Bloomberg wrote that “the net share of small-business owners who said that they raised compensation in May climbed 2 percentage points to 35 percent, the highest in monthly records back to 1986,” adding that “transportation, communications, construction, manufacturing and financial services were among the industries with the highest increases in compensation.” In addition, “With job openings at an all-time high, 23 percent of small-business owners cited the difficulty finding workers with the necessary skills and qualifications, the highest share since 2000,” while at the same time “twenty-nine percent of respondents said they have openings for skilled workers, the third-highest reading since 2000.”

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