![]() In the last few days, there has been some concern that the delta coronavirus variant could slow sales and activity in August and September. The government reported that nonfarm payroll jobs rose by 943,000 and the unemployment rate fell to 5.4% last month. A net 27% expect to raise compensation in the next three months, a 48-year record high reading.īig picture: The NFIB survey comes as hiring in the economy looks to have strengthened in July. “This is inflation, the question is for how long,” the NFIB said in a statement.Ī net 38% of owners reported raising compensation for workers, down 1 point from June’s record high. Prices were rising in wholesale, manufacturing and retail. On inflation, a net 46% of small business owners reported raising average selling prices. It is a coincident indicator of the national economy, though it also offers direction for the small business sector’s immediate prospects. There is also frustration will supply chain woes could mean a loss of sales for businesses. The Small Business Optimism Index is a composite of ten SBET indicators that provides a monthly, summary data point for the state of the small business economy. ![]() Still a net 27% of the owners planned to create new jobs in the next three months, only down one point from a record-high reading in June. ![]() Owners expecting better business conditions over the next six months fell eight points to a net negative 20%. Nine of the 10 Index components declined, which is evidence that economic disruptions are escalating on Main Street as small businesses struggle to keep their doors open. What happened: The business owners, who lean Republican, are losing confidence in the strength of the economy and expect a slow down in job creation, the survey found. The NFIB Small Business Optimism Index fell 8.1 points in March to 96.4, the largest monthly decline in the survey’s history. ![]()
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