The National Federation of Independent Business (NFIB), one of the largest small business associations in the U.S., reported today (10-12-21) that their NFIB Small Business Optimism Index edged 0.4 points higher month-over-month in August to a reading of 100.1. The NFIB Uncertainty Index dropped 7 points to a reading of 69, the lowest level since January 2016.
In a statement prepared for the release of the August Index, NFIB Chief Economist Bill Dunkelberg said, “as the economy moves into the fourth quarter, small business owners are losing confidence in the strength of future business conditions. The biggest problem facing small employers right now is finding enough labor to meet their demand and for managing supply chain disruptions.”
Other key findings include owners expecting better business conditions over the next six months decreased by eight points to a net negative of 28%. This indicator has declined 16 points over the past two months to its lowest reading since January 2013.
Fifty percent of owners reported job openings that could not be filled, an increase of one point from July and a 48-year record high for the second consecutive month.
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Small Business Optimism Increased Slightly in August