Small Business Optimism Increases in November

The NFIB Small Business Optimism Index increased 0.2 point in November, measuring 98.4 The Uncertainty Index decreased 4 points to 63.

A seasonally adjusted net 25.0% of owners plan to create new jobs, down 1 point from the previous month. The percent of owners thinking it’s a good time to expand was 10%, unchanged from the prior month. Forty-eight percent of respondents reported job openings they could not fill in the current period, a decrease of one point from October.  A net 44% of owners reported raising compensation, unchanged from October and a 48-year record high reading. A net 32% plan to raise compensation in the next three months, unchanged from October’s record high reading.

A net negative 2% of all owners (seasonally adjusted) reported higher nominal sales in the past three months, up 2 points from October. The net percent of owners expecting higher real sales volumes increased by 2 points to a net 2.0%.

Two percent of owners reported that all their borrowing needs were not satisfied (unchanged). Twenty-three percent reported all credit needs met (unchanged) and 65.0% said they were not interested in a loan (up 2 points). A net 2.0% reported their last loan was harder to get than in previous attempts (unchanged).

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