Key Points:
- The NFIB Small Business Optimism Index declined in April to 89.0, down 1.1 from March.
- This marks the 16th consecutive month below the 49-year average of 98.
- Consensus among economists on the January index was a decline of 0.5 to 89.6.
- 23% of owners reported that inflation was their single most important problem in operating their business.
- Owners expecting better business conditions over the next six months declined 2% from March to a net negative 49%.
- 45% of owners reported job openings that were hard to fill, up 2% from March.
- “Optimism is not improving on Main Street as more owners struggle with finding qualified workers for their open positions,” said NFIB Chief Economist Bill Dunkelberg. “Inflation remains a top concern for small businesses but is showing signs of easing.”
- The Right Facts will continue to monitor small business optimism.