Tuesday, November 08, 2016

NFIB: Small Business Optimism Index increases in October

by Bill McBride on 11/08/2016 08:44:00 AM

From the National Federation of Independent Business (NFIB): October 2016 Report: Small Business Economic Trends

The Index of Small Business Optimism rose 0.8 points to 94.9, still in the 94 range that has bound it for the past five months and well below the 42 year average of 98.
...
Fifty-five percent reported hiring or trying to hire (down 3 points), but 48 percent reported few or no qualified applicants for the positions they were trying to fill. Twenty-eight percent of all owners reported job openings they could not fill in the current period, up 4 points. This indicates that labor markets remain tight and the unemployment rate will remain steady at what many call “full employment”
emphasis added
Small Business Optimism Index Click on graph for larger image.

This graph shows the small business optimism index since 1986.

The index increased to 94.9 in October.

This is the highest level this year.