A monthly survey from the National Federation of Independent Businesses shows optimism among small businesses dropped slightly in May. The NFIB Small Business Optimism Index shows a record-high 48% of Indiana small businesses have unfilled job openings.
Last month’s index fell 0.2 points to 99.6.
According to the report, May saw a slight pause in the recovery of small business optimism after steadily increasing each month this year.
“The data from this survey proves what we’ve been hearing from our Hoosier members for months,” said Barbara Quandt, NFIB state director in Indiana. “They simply and most frustratingly can’t find qualified workers. Here’s the deal: if small businesses can’t hire staff, they can’t grow. If they can’t grow, recovery will stall. It’s as simple as that. Small businesses are typically the engine that leads states like Indiana out of recession and creates at least two thirds of the net new jobs. If small businesses can’t hire enough workers to staff their establishments, the state and national economy is in trouble.”
The NFIB says five of the 10 Index components improved, three declined, and two were unchanged.
You can connect to the full NFIB Small Business Optimism Index by clicking here.