July 16, 2024
Small business had solid employment hiring plans but were overall unsuccessful in finding additional workers in June
Inflation Remains Top Concern for Main Street as Optimism Index Improves
What it means: Although optimism among small business owners increased in June to 91.5, inflation remains the top problem for business owners. The Optimism Index reached its highest point since December 2023 at 91.5. Historically high levels of small business owners continue to raise compensation to attract and retain employees.
Our take: Hiring plans remain elevated but small business owners were unsuccessful overall in finding additional workers in June. Compensation pressures have contributed to inflation remaining high.
Email your legislators now. Share how inflation pressures are impacting your small business.
Halfway through 2024, the NFIB Small Business Economic Trends (SBET) report revealed that even with the Optimism Index increasing to 91.5, the highest point since December 2023, small business owners remain pessimistic about future conditions. Historically high levels of small business owners continue to raise employee compensation to attract and retain employees in a tight labor market. Hiring plans remain elevated, but small business owners were unsuccessful overall in finding additional workers in June. Thirty-seven percent of small businesses struggled to fill open positions, down five points from May. The full Small Business Economic Trends report and NFIB Jobs Report are available for further analysis.
Get to know NFIB
NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.
Related Articles
Related
June 23, 2026
Small Business Property Owners Disappointed By Supreme Court Decision
NFIB is disappointed by the U.S. Supreme Court decision in the case Pung v. Isabella County concerning tax foreclosures and the compensation of property owners.
Read More
Related
June 23, 2026
Main Street Is Okay—For Now
The final week in February, gas was at $2.94 a gallon. By the end of March it was up to $3.99, and it has been above $4.00 ever since.
Read More
Related
June 23, 2026
West Virginia Small Business Owner Joins NewsNation to Discuss 20% Small Business Deduction
Watch NFIB Michael Ervin on NewsNation.
Read More
Related
June 22, 2026
VIDEO: On NewsNation, NFIB Member Discusses How 20% Small Business Deduction Has Provided Certainty For Small Businesses
WASHINGTON, D.C. (June 22, 2026) – West Virginia small business owner and NFIB member Michael Ervin joined Markie Martin on NewsNation Thursday to discuss the …
Read More