The share of US small-business owners who plan to add jobs fell in March for a fourth straight month, pointing to softer demand for labor.
Some 11% of firms said they intend to add workers in the next three months on net, down a percentage point from February and the smallest share since May 2020, according to data out Thursday from the National Federation of Independent Business.
A net 38% of firms said they raised compensation during the month, up from 35% in February. Compensation plans also picked up slightly.
While the share of employers reporting that openings were hard to fill held at the lowest level since the start of 2021, “the small-business labor market remains tight, and owners continue to compete to retain and recruit e