Everything Small Businesses Are Saying Points To Higher Wages
New survey data from the National Federation of Independent Business (NFIB) point to rising wages for American Workers.
25% percent of firms reported increases to compensation in the past three months, up from November's 21% percent. This number has also been trending upwards since the financial crisis.
17% expect to increase compensation in the next six months, up from 13% in November.
And while sales are still one of the bigger concerns for small business, it's seen a major drop as the "single most important problem." The change towards labor quality becoming the most important problem for more employers suggests that economic concerns are shifting from weak demand to tight supply.
And although there was a slight decrease in respondents who reported "few or no qualified applicants" for the positions they were trying to fill (43% in December, down from November's 45%), good labor in America is still in short supply. This number has been continuously trending higher since 2009.
And all of this points to higher wages for America's workers.