One such group is small business owners, according to a new poll from the National Federation of Independent Businesses. The NFIB’s August survey found that its Index of Small Business Optimism gained 0.7 points as it rose to 88.8. Most of that jump was observed because both expected sales and expectations for business conditions six months out rose significantly. However, despite these climbs, both rates are still below levels seen prior to the recession, and many find that troubling.
“Small business owners are expecting sub-par growth in the second half of 2010,” said Bill Dunkelberg, NFIB’s chief economist. “Consumers are pessimistic, business owners are pessimistic and Washington’s leadership has been unable to inspire any confidence in the future.”
August saw no improvement in employment, as job loss averaged 0.3 employees per firm on a seasonally adjusted basis. This index has been negative since April 2007 and growth has slowed in 10 of the 12 quarters since. Meanwhile, 11 percent of businesses reported unfilled positions, which, while up from July, is still weak. Over the next three months, 8 percent say they will increase employment, though that figure is down from 9 percent in July.
The national unemployment rate has remained higher than historical averages for months, and seems unable to drop below 9 percent despite improvements in other areas of the economy.
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