New data from the U.S. Census Bureau indicates that the tightening labor market is disproportionately impacting smaller businesses. 23.4 percent of small businesses cited labor needs in August 2020, which increased to over 40 percent at the end of March 2022. At the end of 2021, small establishments with 10-49 employees had over 3 million job openings, more than any other size group.
For more, read Facts About Small Business: Small Business Hiring Needs (PDF, 164 KB).
*Updated May 2022