In January, small business owners reported heightened uncertainty about the future, primarily driven by ongoing labor challenges and persistent inflationary pressures. A monthly poll from the National Federation of Independent Business revealed a notable rise in the uncertainty index, while optimism remained above the 51-year average. Although 18% of owners pointed to inflation as their biggest issue, labor quality closely followed. With a significant portion of owners unable to fill job openings, fewer are planning capital investments, revealing a cautious approach in light of current economic conditions.
Small business owners exhibited high optimism despite rising uncertainty, with 35% unable to fill job openings and inflation concerns impacting investment plans.
The NFIB reported a 14-point rise in the uncertainty index, reflecting diminished confidence among small business owners due to persistent labor challenges and inflation.
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