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Those struggling to find employment in our region already know what a recent report by the National Federation of Independent Business spells out. Hiring has slowed down -- everywhere; and jobs that are available require education or skillsets that not everyone has.
According to the group's September jobs report, a seasonally adjusted 32% of owners do report they have job openings they cannot fill. But that is down from August.
The Small Business Employment Index measures the state of the small business labor market. It declined 1.2 points in September to 100.6, falling below the 2025 average of 101.2. Yet 87% of those hiring or trying to hire reported few or no qualified applicants for the positions they were trying to fill.
In fact, the percentage of small business owners reporting "labor quality or availability" as their top operating problem increased 3 points from August to 26%, 14 points above the historical average of 12%.
Meanwhile, fewer employers say they are able to raise compensation for workers. Only 28% of small business owners reported being able to do so in September -- down from August.
While small and independent businesses are certainly not the whole picture when it comes to employment, they are a vital part of it, and an excellent indicator of the kinds of challenges that could be scaling up for larger employers.
It's a reminder of the importance of affordable access to job training and skills upgrades -- particularly for those who are highly qualified in industries that are now shrinking.
Policymakers -- and lawmakers -- must be on the lookout for opportunities to fund such retraining programs (preferably those led by those who understand what is truly needed). If we're going to turn around this jobs slump, we've got a lot to learn.