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Small Business Optimism Is Still Strong
Hovers Near All-time High

Small Business Optimism Is Still Strong

In a recent survey, owners of small businesses persuasively reported confidence in the economy and in improving profit margins.

The NFIB Small Business Optimism Index posted a score of 107.4 in October, which despite a half point drop, remains near record territory according to the Wells Fargo Securities Economics Group.

The analysts regard the level of current confidence to be in line with at least three percent real GDP growth. They credit the slight drop in numbers for the month as possibly due to mid-term election jitters.

The majority of businesses are also looking to add to their payrolls with 60 percent of them saying that they are trying to hire at least one more worker. One snag regarding this is that 53 percent of businesses stated that they are having trouble finding qualified candidates - the reported number one challenge for owners. However, this shortage in the labor pool is credited with improving wages.

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November 17, 2019, 5:45 am PDT

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