From the National Federation of Independent Business (NFIB): August 2018 Report: Small Business Optimism Index
The NFIB Small Business Optimism Index soared to 108.8 in August, a new record in the survey’s 45-year history, topping the July 1983 highwater mark of 108.
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After posting significant gains in employment in July, job creation slowed among small firms in August, perhaps because there were fewer workers available to hire because job openings hit a 45 year record high. Fifteen percent (down 2 points) reported increasing employment an average of 3.2 workers per firm and 10 percent (down 1 point) reported reducing employment an average of 2.4 workers per firm (seasonally adjusted). Sixty-two percent reported hiring or trying to hire (up 3 points), but 55 percent (up 3 points and 89 percent of those hiring or trying to hire) reported few or no qualified applicants for the positions they were trying to fill. A record 25 percent of owners cited the difficulty of finding qualified workers as their Single Most Important Business Problem (up 2 points). Thirty-eight percent of all owners reported job openings they could not fill in the current period, a new survey record high.
emphasis added
Click on graph for larger image.
This graph shows the small business optimism index since 1986.
The index increased to 108.8 in August.
Note: Usually small business owners complain about taxes and regulations. However, during the recession, “poor sales” was the top problem.
Now the difficulty of finding qualified workers is the top problem.