The March 8 NFIB Optimism Index continued to fall in February to 95.7 compared to the average score of 98. Inflation was again reported by 26% of business owners as their biggest concern with 68% of owners increasing average selling prices, the greatest price increase activity in 48 years. Business owners also reported that job openings could not be filled, at 48% up 1% from January. With demand for goods exceeding supply, and inflation already breaking 40-year levels, the next report is expected to show more of the same as the impacts of Russia’s invasion of Ukraine begin to be felt.
Small Business Owners Continue to Struggle with Inflation and Labor Shortage
Published on March 8, 2022
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