NFIB: Small Business Optimism Index declined in November

From the National Federation of Independent Business (NFIB): Small Business Optimism Collapses in November After Three Stagnant Months

The Index of Small Business Optimism was fell 1.3 points in November, dropping the Index to 94.8, this after three months of no change of any significance. ...

A seasonally adjusted net 11 percent plan to create new jobs, unchanged. A seasonally adjusted net 23 percent of owners reported raising worker compensation, up 2 points and at an expansion high. ...
emphasis added

Click on graph for larger image.

This graph shows the small business optimism index since 1986.

The index declined to 94.8 in November.

Hiring plans are solid, and it appears there is growing wage pressure.