Small business optimism fell 0.9 points on the NFIB Small Business Optimism Index in October, reaching a seven-month low of 98.2.
Small business optimism fell 0.9 points on the NFIB Small Business Optimism Index in October, reaching a seven-month low of 98.2.
“Small business owners are attempting to take advantage of current economic growth but remain pessimistic about business conditions in the near future,” NFIB Chief Economist Bill Dunkelberg said in a statement. “One of the biggest problems for small businesses is the lack of workers for unfilled positions and inventory shortages, which will continue to be a problem during the holiday season.”
The number of owners reporting job openings that could not be filled dropped from September's record-high 51% to 49% in October. A record 44% of owners reported raising compensation in October, with 32% reporting plans to raise compensation in the next three months.
The full NFIB report can be found here.