Topics:
November 17, 2023
Inflation and labor struggles continue to hinder the small business economy
NFIB New Jersey Marks 50 Years of Small Business Economic Data with Latest SBET Survey
- Twenty-two percent of owners reported that inflation was their single most important problem in operating their business, down one point from last month.
- Owners expecting better business conditions over the next six months was unchanged from September at a net negative 43% (seasonally adjusted).
- A net negative 17% of all owners (seasonally adjusted) reported higher nominal sales in the past three months, down nine points from September and the lowest reading since July 2020.
- Forty-three percent (seasonally adjusted) of owners reported job openings that were hard to fill, unchanged from September and remains historically very high.
- Seasonally adjusted, a net 24% plan to raise compensation in the next three months, up one point from September.
- The frequency of reports of positive profit trends was a net negative 32%, down eight points from September.
- The net percent of owners who expect real sales to be higher increased three points from September to a net negative 10%.
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For 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is nonprofit, nonpartisan, and member-driven. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses, and remains so today. For more information, please visit nfib.com.
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