Less than 40% of people vote in the midterm elections... but 100% of them will itch about the results and what their governor and local officials do.

Join us in guilting... err... inspiring everyone to vote this midterm by staying informed.
All

Nerd Alert: New Stats on U.S. Small Business Owners

By
Natalie Fell
December 26, 2023

Who keeps the pulse on what American small business owners are thinking? 🤔 The nerds at the National Federation of Independent Business (NFIB), that's who! 🤓 No word on how cool their desks look. We bet they write with fancy pens.

‍

The NFIB Small Business Optimism Index is chock full of interesting stats. 📊 The findings tell a pretty juicy story about how the little guys who run the economy really feel. Let's get nerdy and dive into the details!

 

Here’s Five Fast Facts from the latest NFIB report:

  1. 🫗 Glass Half Empty - The NFIB Small Business Optimism Index decreased by 0.1 point in November to 90.6. This is the 23rd consecutive month of being below a 50-year national average of 98. 
  1. 🎈 A Bit Less Bloated - Inflation was reported as the biggest challenge for 22% of business owners, ten points lower than this time last year. 
  1. 🕵️ Case of the Missing Talent - A total of 18% of business owners have plans to create new jobs within the next three months. Out of those who had hiring plans in November, 93% reported few or no qualified applicants. 
  1. 🛒 Sales Tales - The Index reported that 17% of business owners reported higher sales over the past three months. That's the lowest it's been since 2020. The amount of business owners who reportedly raised their prices also decreased by five points.
  1. 💸 Padded Paychecks - Within the next three months, 30% of business owners plan to raise compensation. That number is up six points from October and it's the highest since December of 2021. That being said, 8% of business owners said labor costs were their biggest issue.

🔥Bottom line: There's no shortage of news headlines about big corporations. Dig a little deeper into how small business owners are feeling and you'll find a gold mine. A real treasure trove of economic info, if you will. Wondering what the Fed will do next with interest rates? Head here for more deets. 

‍

Did any of these stats surprise you?

‍

Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!

‍

Btw, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!

‍

NewsletterPrivacy PolicyCookie PolicyCookie Preferencesterms of ServiceAdvertise with us
© 2022 Paycheckology. All rights reserved.