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Small businesses in the U.S. are scaling back hiring plans. In March, only 11% said they intend to create new jobs in the next three months. That’s the lowest since May 2020, according to NFIB. Despite solid employment activity, job-creation plans fell below the historical average, reflecting a tightening labor market. Rising competition for skilled workers has led to higher pay while a significant portion of small businesses struggle to fill open positions.
By Rebecca Meiser
Contributor, Commerce + Communities Today and Small Business Center
ICSC champions small and emerging businesses in getting from business plan to brick-and-mortar.
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