Overview
- The NFIB Small Business Optimism Index rose 0.8 points in November to 99, sitting just above its long-run average and below last year’s 101.7.
- A net 34% of owners raised selling prices, a 13-point monthly jump that the NFIB calls the largest on record, with 30% planning additional increases over the next three months.
- Labor quality was cited by 21% of owners as their most important problem, reflecting elevated openings and slower hiring despite higher compensation.
- Supply-chain disruptions affected 64% of firms, with 7% reporting significant impact, up from October.
- Expectations for better business conditions have fallen 32 points since January, and only 13% of owners say it is a good time to expand.