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Small Business Optimism Inches Upward, But Inflation Concerns Rise

Small business optimism increased 0.5 points on the NFIB Small Business Optimism Index in December, growing to a level of 98.9.

Of the small business owners who responded to the monthly survey, 22% reported that inflation was the biggest issue for their business—the highest percentage since 1981, according to the National Federation of Independent Business.

“Small businesses unfortunately saw a disappointing December jobs report, with staffing issues continuing to impact their ability to be fully productive,” NFIB Chief Economist Bill Dunkelberg said in a statement. “Inflation is at the highest level since the 1980s and is having an overwhelming impact on owners’ ability to manage their businesses.”

Small business owners expecting better business conditions over the next six months increased three points to a net negative 35%, and 49% of small business owners reported job openings that could not be filled, an increase of one point from November.

The full NFIB report can be found here.

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