Tuesday, June 12, 2018

Small Business Optimism Index increased in May

by Bill McBride on 6/12/2018 06:00:00 AM

From the National Federation of Independent Business (NFIB): May 2018 Report: Small Business Optimism Index

The Small Business Optimism Index increased in May to the second highest level in the NFIB survey's 45-year history. The index rose to 107.8, a three-point gain, with small businesses reporting high numbers in several key areas including compensation, profits, and sales trends.
..
As reported in NFIB’s May jobs report, 23 percent of owners cited the difficulty of finding qualified workers as their Single Most Important Business Problem, followed by taxes at 17 percent and regulations at 13 percent. Fifty-eight percent reported hiring or trying to hire, up one point from last month but 83 percent of those reported few or no qualified workers.
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 107.8 in May.

Note: Usually small business owners complain about taxes and regulations.  However, during the recession, "poor sales" was the top problem.

Now the difficulty of finding qualified workers is the top problem.