Inflation, Labor Concerns Drive Small Business Optimism Down 1.1 Points

Small business optimism fell 1.1 points in April to a level of 89.0, marking the sixth consecutive month below the NFIB Small Business Optimism Index’s 49-year average of 98.

The top business problem cited in the survey was “labor quality” at 24%. “Inflation” came in as the second highest concern at 23%.

“Optimism is not improving on Main Street as more owners struggle with finding qualified workers for their open positions,” NFIB Chief Economist Bill Dunkelberg said in a statement. “Inflation remains a top concern for small businesses but is showing signs of easing.”

The full NFIB report can be found here.