Big Sky Times

The National Federation of Independent Business (NFIB) released its latest Jobs Report, indicating a decline in job creation for February. This marks the highest reading since August last year.

Ronda Wiggers, state director for NFIB in Montana, expressed concerns about the economic recovery on Main Streets across the nation. "What the latest Jobs Report tells me is that the economic recovery along the Main Streets of the nation is fragile," she said. Wiggers emphasized two actions needed to boost small business optimism: preventing the expiration of the 20% Small Business Deduction and maintaining low operational costs by rejecting certain legislative bills.

The report, based on a national survey of NFIB-member small-business owners, highlights challenges faced by businesses with typically one to nine employees and gross sales around $500,000 annually.

Bill Dunkelberg, NFIB Chief Economist, noted that over half of Main Street firms attempted hiring in February but struggled to find qualified workers. "Meanwhile, consistent compensation increases continue to put pressure on small business owners as they look for qualified workers to fill their many open positions," he added.

Key findings from the report show 38% of small business owners reported unfilled job openings in February—an increase from January and a peak since August 2024. The sectors with most openings include retail, construction, and manufacturing; agriculture and finance showed fewer vacancies. Labor quality issues were identified as a top concern by 19% of business owners while labor costs rose as a primary problem for 12%, nearing historic highs.

In terms of compensation trends, a net 33% of owners raised pay levels in February—a figure unchanged from January—with an expected decrease in planned raises over the next three months.

For ongoing updates about Montana's small business environment, follow NFIB's communications channels or visit their website.

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