WASHINGTON – NFIB’s July Jobs Report shows that the Small Business Employment Index rose after four consecutive months of decline, registering 102.1 in July after measuring 100.2 in June. In July, 36% (seasonally adjusted) of small business owners reported job openings they could not fill, up 4 points from June and the highest reading since June 2025. Hiring plans suggest that small business owners are expecting a surge in business that will require more workers. In July, 27% of small business owners cited “labor quality or availability” as their single most important problem, up 8 points from June and 15 points above the historical average of 12%. In July, both labor compensation measures rose.