The National Federation of Independent Business (NFIB) released its latest monthly Jobs Report, indicating that 33% of small business owners nationally reported job openings they could not fill in July. This figure is down three points from June and represents the lowest level since December 2020, but it remains above the historical average of 25%.
Casey Hill, NFIB Utah State Director, commented on the report’s release: “With the Utah Legislature’s lead up to the 2026 session now in full swing, we’re working hard to promote ideas for building on the successes of this past session while being equally ready to make our opposition to bad-for-small-business proposals known widely and loudly.”
The NFIB Jobs Report is based on a national survey of NFIB-member small-business owners. The typical member employs between one and nine people and reports annual gross sales of about $500,000.
Bill Dunkelberg, NFIB Chief Economist, stated: “The challenge of finding qualified workers is easing overall but still remained significant for many small business owners in July. The easing labor market pressures are also reflected in fewer firms raising compensation.”
According to highlights from the report, job openings were most prevalent in construction, wholesale, and transportation sectors. Finance and agriculture industries had the fewest unfilled positions. A seasonally adjusted net 14% of owners plan to create new jobs in the next three months—one point higher than June and above the historical average of net 11%. Additionally, a net 27% of small business owners reported raising compensation in July (down six points from June), while a net 17% plan to raise compensation over the next three months (down two points from June). Labor costs as the single most important problem for business owners decreased by one point from June to 9%.
For ongoing updates about Utah small businesses, information can be found at www.nfib.com or on X @nfib_ut.
