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Small business owners more optimistic; uncertainty eases with election over

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The NFIB released its October Small Business Optimism Index on Tuesday, showing a slightly brighter outlook on Main Streets.

FILE - A small business owner is seen April 23, 2020, at Bills Pickin Parlor in West Columbia, South Carolina. Small business owners “were a bit more optimistic,” NFIB Executive Director of Research Holly Wade said.

Wade said uncertainty is one of the worst things for small business owners, but the spike from the October survey was “overwhelmingly related to the election.” The NFIB’s survey includes companies across a broad scope of industries. The NFIB has collected small business economic trends data with quarterly surveys since 1973 and monthly surveys since 1986.

Of the 53% of small business owners hiring or trying to hire in October, 87% reported few or no qualified applicants for the positions they were trying to fill, according to the NFIB.The unemployment rate remained at a low 4.1%, but other cracks have emerged in America's strong jobs market.

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