News Analysis
The National Federation of Independent Businesses (NFIB) released its monthly optimism index report on June 14, attesting to the lowest ever score for the 48-year-old metric, as small business owners contend with the pressures of inflation and a tight labor market.
The NFIB index fell by 0.1 percentage point from the previous month to a new low of 93.1 in May, reflecting the doubts and consternations of small business owners surveyed (pdf). May was the fifth consecutive month in which the optimism index was reported below the 48-year average of 98.
“Inflation continues to outpace compensation which has reduced real incomes across the nation,” NFIB Chief Economist Bill Dunkelberg said in a statement. “Small business owners remain very pessimistic about the second half of the year as supply chain disruptions, inflation, and the labor shortage are not easing.”…