Nearly half of small business owners are not willing to hire because of labor costs and “skyrocketing inflation,” a newly released small business report shows.
The small business network Alignable released its July Hiring report which found that “45% of small businesses (SMBs) are halting their hiring, largely because they say they can’t afford to add staff.
“This represents a significant hiring shift, and is largely a reaction to mounting labor costs, skyrocketing inflation, fears of a recession, and rising interest rates,” the group said.The report found 4% of small businesses are planning to lay off workers and that “some employers […]
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