The LookoutSmall biz confidence ‘solidly in recession territory’
As politicians love to point out, small businesses create the majority of new jobs in the United States. So it's yet another bad sign for the economy that the people who run them are feeling even gloomier than ever about the economy right now.
An index of small-business optimism run by the National Federation of Independent Business (NFIB), a trade group for small businesses, fell again last month, and is "solidly in recession territory," according to the group.
The index fell dropped by 0.1 and now stands at 90.8.
In one small bright spot, NFIB found that despite June's woeful jobs numbers, the share of companies reporting unfilled job openings actually rose slight in June, to 15 percent. The group sees that as "an indication that the unemployment rate will ease back below 9 percent in the late summer or early fall."
That may not seem like much, but these days we have to find good news wherever we can.
