Key facts
- Share of US small businesses planning new hires fell in May.
- Share of US small businesses having trouble filling jobs fell in May.
- These figures reached a six-year low in May.
The National Federation of Independent Business (NFIB) reported that in May, the proportion of US small businesses planning to hire new employees decreased. Additionally, the number of small businesses reporting difficulties in filling existing job openings also declined. Both metrics reached their lowest point in six years during May, indicating a significant cooling in the small business labor market.