LABOR QUALITY THE TOP PROBLEM FOR SMALL BUSINESSES, FOLLOWED BY INFLATION
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.