Nearly Half of Small Businesses are in Hiring Freezes, Citing Inflation and Costs 

A July hiring report by the small business network Alignable, said 45 percent of small businesses (SMBs) are stopping their hiring, mainly because they say they can’t afford to add staff. 

The report said, 4 percent of small businesses are planning to lay off workers and that “some employers noted that they have learned to live without the extra staff, making other changes and working longer hours themselves.” 

Alignable found, “The top 5 states most affected by the hiring slowdown are NJ (64 percent), FL (63 percent), TX (52 percent), VA (52 percent), and CA (49 percent).” Within these states, “3 percent to 14 percent of all small business owners in these states say they’ll be forced to lay off staff, too.” 

Click here to

Get Newt’s Latest Book:

Latest News: