That’s the lowest level since December 2012 and the 27th consecutive month below the long-term average of 98.Executive Director of Research Holly Wade.“But this picture seems to have much more to do with inflation,” Wade said.Inflation and labor quality concerns shared top billing for a while. Now, inflation is the clear top concern.
Unfilled job openings have remained high, though hiring plans have dropped to about 2016 levels, she said. Wade said the drop in the Small Business Optimism Index, down 0.9 of a point in March, was predominantly because of the drop in sales expectations.
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