Tuesday, June 13, 2017

NFIB: Small Business Optimism Index unchanged in May

by Bill McBride on 6/13/2017 09:25:00 AM

From the National Federation of Independent Business (NFIB): May 2017 Report: Small Business Optimism Index

The Index for May matched its strong performance in April of 104.5. That means the Index has been at a historically high level for six straight months. Five of the Index components posted a gain, four declined, and one remained unchanged.

The average employment change per firm was 0.34, which puts hiring activity in May near the highest levels in the 43-year history of the Index. Fifteen percent of owners reported hiring three workers per firm, 9 percent reported cutting 2.3 workers per firm.

A strong majority of owners, 59 percent, reported hiring or trying to hire in May, although 51 percent said they found few or no qualified workers. Remarkably, that was a problem for 86 percent of owners who said they tried to hire. Nineteen percent of all owners in the survey said finding qualified workers was their top concern, making it the second-biggest problem for small business. ...
emphasis added
Small Business Optimism Index Click on graph for larger image.

This graph shows the small business optimism index since 1986.

The index was unchanged at 104.5 in May.