NFIB’s new Small Business Employment Index unifies several jobs-related metrics into one single measure of the small business labor market—essentially, the NFIB Small Business Optimism Index but for jobs. This new index is constructed from questions on planned and actual changes in employment and employee compensation, featuring data from the past 40 years. Podcast host Holly Wade, NFIB Research Center Executive Director, explores the numbers behind the NFIB Small Business Employment Index and analyzes the trends beyond the data.

The Small Business Economic Trends (SBET) report provides monthly insights into the operating environment for small businesses with data points such as optimism, uncertainty, job openings, pricing, employee compensation, and the health of small businesses. Podcast co-hosts Holly Wade, NFIB Research Center Executive Director, and Peter Hansen, Director of Research and Policy Analysis, discuss the 2025 SBET data reflecting on the top issues for small businesses over the past year, dive into the December numbers, and look ahead at expectations for economic conditions in the upcoming months.

Take a look back at the 52-year history of NFIB’s Small Business Economic Trends report. The monthly report provides experts with a critical data framework for the small business economy. Special guest Bill Dunkelberg, NFIB’s Chief Economist, joins Holly Wade, NFIB Research Center Executive Director, to talk about the report and explore how this data has contributed to our understanding of economic conditions affecting small businesses over the decades.

Holiday shopping is underway, and small business optimism is increasing in NFIB’s recent Small Business Economic Trends data. Co-hosts Holly Wade, NFIB Research Center Executive Director, and Peter Hansen, Director of Research and Policy Analysis, explore causes for the increase in optimism, including positive news on sales, hiring, and compensation plans. They also discuss less encouraging data in the supply and pricing sphere, where inflation-related difficulties are increasing for small businesses. Learn more about the NFIB Research Center and get the full report.

Each month, the NFIB Research Center surveys a random sample of NFIB members to collect data for the Small Business Economic Trends Report. To kick off the new research podcast, co-hosts Holly Wade, Executive Director of the NFIB Research Center, and Peter Hansen, NFIB’s Director of Research and Policy Analysis, dive deeper into the key findings from the October 2025 survey. Their discussion covers numerous trends that have been difficult to track during the government shutdown data blackout. While NFIB’s Optimism Index is just above its historical average, the conversation covers an outlier in the labor market trend, small business’ concerns and challenges, and what to watch for in the coming months.

The National Federation of Independent Business has been collecting and analyzing data focused on small businesses for 53 years. In this introductory episode of Small Business by the Numbers, co-hosts Holly Wade, NFIB Research Center Executive Director, and Peter Hansen, Director of Research and Policy Analysis, explain why this data matters and provide insight into the topics that will be covered in future episodes.