Small business optimism at 35-year high
By Leia Klingel
August 14, 2018
Small business owners’ optimism touched a 35-year high in July, with businesses setting records in terms of job creation and hiring, while they cited the availability of qualified workers as their biggest challenge.
In July 2018, the NFIB’s Small Business Optimism Index marked its second highest level in the survey’s 45-year history, at 107.9 – just shy of the July 1983 record-high of 108.
Records were set for job creation plans. A seasonally-adjusted net 23 percent of businesses are planning to create new jobs, while 37 percent of business owners said they had job openings that they could not fill in July.
A net 35 percent of owners expect better business conditions, while they said the availability of qualified workers was their No. 1 problem. Owners also reported that they were increasing the compensation they offered workers.