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. Small business owners’ plans to fill open positions remain elevated with a seasonally adjusted net 19 planning to create new jobs in the next three months, up two points from April. 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. The National Federation of Independent Business (NFIB) said its Small Business Optimism Index fell 2.1 points to 89.8 last month - the lowest since June - amid a decline in the share of owners. Small businesses have a record high level of job openings currently and are working hard to fill their open positions. “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. There is also frustration will supply chain woes could mean a loss of sales for businesses. 13, 2022) The NFIB Small Business Optimism Index rose 1.9 points in August to 91. 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%. 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.
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