NFIB Survey: 40-Year High Inflation Pushes Job Creators’ Optimism to Lowest in Nearly 50 years
With wholesale prices for Main Street up 10.8 percent, expectations for better business conditions over the next six months sank among job creators to the lowest in nearly 50 years, according to the National Federation of Independent Business (NFIB) survey.
This follows a report in which not a single CFO surveyed believes a recession is avoidable.
- Price Hikes: At least 72 percent of small business owners were forced to raise their prices, with 28 percent of owners reporting that inflation was their top concern.
- Sinking Optimism: Job creators’ expectations for better business conditions have plummeted every month since January.
- Worker Shortage: More than 50 percent of owners have job openings that could not be filled.
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- Americans Believe Biden-Flation Will Get Worse. With only 57 percent of Americans report having “just enough” to maintain their current standard of living, people are cutting back on common household expenses.
- Recession Is Looming. The majority of top job creators believe recession is unavoidable, with 85 percent of Americans believing the U.S. will be in recession in the next year.
- President Biden Doesn’t Have a Plan to Fight Inflation and is Promising to Make it Worse. From denying inflation and claiming it was “temporary,” to passing the buck with “Putin’s Price Hike,” the White House and congressional Democrats are out of touch with the challenges Americans face and continue to threaten crippling tax hikes.