Small business optimism fell one point in September to 99.1, the lowest reading since March, according to the NFIB Small Business Optimism Index.
The number of small business owners who reported job openings that could not be filled reached 51%—a 48-year high and the third consecutive record-setting month.
“Small business owners are doing their best to meet the needs of customers, but are unable to hire workers or receive the needed supplies and inventories,” stated NFIB Chief Economist Bill Dunkelberg.
A net 42% of owners reported raising compensation, up one point from August and a 48-year high. A net 30% of owners plan to raise compensation in the next three months.
The full NFIB report can be found here.