Sooner State News

NFIB's December jobs report indicates a slight decrease in the percentage of small business owners struggling to fill job openings, with 35% reporting unfilled positions. This figure represents a one-point drop from November. Compensation increases also saw a decline, with 29% of small business owners raising pay, marking the lowest level since March 2021.

"Finding qualified workers remained a major headwind for stronger job growth on Main Street in December," stated NFIB Chief Economist Bill Dunkelberg. He added that compensation increases have softened but remain solid as the year concludes.

Jerrod Shouse, NFIB State Director, commented on the ongoing challenge of hiring qualified workers: "Next month, as lawmakers convene here at the statehouse, they should keep these challenges in mind and work to promote greater economic opportunity for Oklahomans."

Looking ahead, 24% of small business owners plan to raise compensation within three months—a four-point drop from November's peak this year. Labor costs remain a significant concern for business owners, unchanged at 11%, just below the high of 13% seen in December 2021.

The quality of labor continues to be an issue for many small businesses, with 19% citing it as their top operating problem—unchanged from November. A net 19% plan to create new jobs soon, showing a slight increase from last month.

Overall hiring efforts remained steady in December; however, nearly half (49%) reported difficulty finding qualified applicants. Specifically, 28% found few qualified candidates while 21% found none. Openings for skilled workers decreased slightly to 29%, while those for unskilled labor held steady at 13%.

Job openings were most prevalent in transportation, construction, and manufacturing sectors but less so in agriculture and finance. Notably, construction sector openings dropped significantly by both monthly and yearly comparisons.