Optimism among US small-business owners high

Dow Jones - Optimism among US small-business owners rose in November, reaching the highest level in more than three decades, according to a report released Tuesday.

The National Federation of Independent Business’s Small Business Optimism Index rose 3.7 points in November to 107.5. That is the second-highest reading since the organisation began conducting the surveys in 1973. The highest reading to date was 108 in July 1983.

The majority of the gain came from business owners who expect business conditions to improve in the next six months and sales gains, excluding inflation, to increase.

Unfilled job openings

Hiring plans are soaring, the NFIB said, primarily in construction, manufacturing and professional services. But finding qualified workers continued to be a concern, with 30% of owners reporting having unfilled job openings.

The net percentage of owners who expect higher real sales volumes gained 13 points, rising to 34% of owners, which the NFIB said is consistent to reported surges in consumer sentiment from the University of Michigan and Conference Board.