Owners expecting better business conditions over the next six months worsened by eight points from November to a net negative 51.
However this is “a positive indicator for the overall economy, ” Dunkelberg said. 10, 2023) The NFIB Small Business Optimism Index declined 2.1 points in December to 89.8, marking the 12 th consecutive month below the 49-year average of 98. As a counter measure, many small business owners have been raising compensation for workers as means to attract and keep good employees.
#National federation of independent business optimism index driver
“There’s a critical shortage of qualified workers and it’s becoming a real cost driver for small businesses,” said Dunkelberg.
According to the report, 31 percent of business owners currently have positions open they are unable to fill - and the problem will become more intense if the optimism continues to grow. Small business owners were waiting for better policies from Washington, suddenly they got them, and the engine of the economy roared back to life.”Īs a result of the increased confidence, the report states that many small business owners were bedeviled by labor shortage in 2017. The Index of Small Business Optimism gained 1.5 points, but the reading of 93.2 is still very weak, closer to a recession reading than indicative of a. Twenty-two percent of owners said inflation was the single most important. Subscriptions for twelve monthly SBET issues are 250. The National Federation of Independent Business said its Small Business Optimism Index rose 0.5 point to 98.9 last month. Each was mailed a question-naire and one reminder. “The 2016 election was like a dam breaking. files of the National Federation of Independent Business (NFIB). “We’ve been doing this research for nearly half a century, longer than anyone else, and I’ve never seen anything like 2017,” said NFIB Chief Economist Bill Dunkelberg. According to NFIB, 2017 was a strong year in the history of its survey - one that has been conducted since the fourth quarter of 1973. December’s 2017 optimism index was slightly lower than the near-record November report, coming in at 104.9, yet it was still a historically exceptional performance.
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