Market Update: We break down the business implications, market impact, and expert insights related to Market Update: NFIB Response to Governor Moore’s State of the State – Full Analysis.
Following Governor Wes Moore’s State of the State address, NFIB Maryland State Director Mike O’Halloran emphasizes the importance of strengthening the small business economy:
“Small business owners are not immune from the affordability challenges happening in the state – from ongoing inflationary pressures to increased utility costs. Small employers are also adjusting to the new taxes and fees that were imposed during last year’s legislative session. When Governor Moore discusses addressing affordability, small businesses are waiting to hear the Governor’s plan to include them in those efforts. We cannot leave Main Street behind.
“It’s imperative that lawmakers avoid more taxes on Main Street and prioritize legislation that will give small business owners the ability to hire and grow. The tight labor market has started to ease, but employers continue to report difficulties in finding qualified workers and maintaining a full and productive staff. We urge Governor Moore and members of the General Assembly to focus on pro-growth policies to ignite Maryland’s small business economy.”
NFIB’s January jobs report showed that 50% of small business owners reported hiring or trying to hire. Of those trying, 88% reported few or no qualified applicants for their open positions.