The National Federation of Independent Business (NFIB) recently released its September 2018 small business scorecard for Pennsylvania, which notes that employment rates are rising but still lag behind some other states.
The number of jobs reported in Pennsylvania increased from 6,087,862 in June to 6,102,932 in July, according to the Bureau of Labor Statistics. The state’s unemployment rate is 4.2 percent, 0.3 percentage points higher than that national rate for the month. Pennsylvania is 33rd in the nation regarding unemployment. NFIB gave Pennsylvania a C in this area.
Recent NFIB employment data “shows, once again, that small are hiring, raising wages, and expanding the workforce, which ultimately benefits the economy,” NFIB President and CEO Juanita D. Duggan said.
NFIB noted that new regulations from the Trump Administration could increase choice and lower costs for small businesses by enabling them to cooperate to offer health insurance. According to NFIB, stricter state rules in Pennsylvania could lead to higher costs for small businesses than under the federal regulation. Pennsylvania Insurance Commissioner said recently that the state would apply a 2001 Health and Human Services to plans under the new federal regulation, which imposes stricter small and individual group market rules. NFIB gave the Commonwealth a D in this area.
NFIB’s report also discussed the heating held by Pennsylvania’s House Labor and Industry Committee earlier this month regarding a proposal by Pennsylvania Governor Tom Wolf to more than double the salary threshold for overtime-eligible workers. According to NFIB, the proposal would increase labor costs and limit the flexibility of small businesses. At the hearing, the committee heard concerns from small businesses, including an NFIB member. NFIB gave Pennsylvania an A in this area.