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.