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Ohio Small Business Job Openings Decline in May

The Ohio Small Business Employment Index stayed flat at 100.3 in May, after 100.4 in April.
29% of small businesses in May reported unfilled openings, the lowest since May 2020.
Openings for skilled workers fell to 27% while unskilled openings dropped to 9%.
A net 9% of owners plan to create new jobs in the next three months, the lowest since 2020.
Overall hiring remained visible, with 55% of owners hiring or trying to hire in May.
Forty-six percent of owners reported few or no qualified applicants for open positions.
Labor costs reached the highest reading in the survey, signaling rising expenses for employers.
Thirteen percent of owners cited labor quality as their top problem in May.
Seasonally adjusted compensation rose, with net 31% of owners increasing pay in May.
An 18% share planned to raise compensation in the next three months.

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