![]() Both the share of firms increasing worker compensation and those planning to do so held steady at record high levels of respectively 44% and 32%. Concerns regarding inflation increased further, rising two points to 18%.īusinesses continued to place a heavy focus on wage increases in order to attract and retain workers. ‘Quality of labor’ concerns, however, remained top of mind, rising five points to 29% – a new record high in the survey’s 48-year history. At the same time, the share of firms reporting ‘few or no qualified’ applicants to their job postings fell two points to 56%. The share of firms with unfilled job openings and the share of firms planning to increase employment fell one point a piece to 48% and 25% respectively. Most of the survey’s labor market indicators eased on the month. The latter is tied with November 2012 for the lowest reading on record. Weighing on the headline index was a four point decline in capital outlay plans (27%) and a one point decline in expectations about an improvement in the economy (-38%). Improvements in plans to increase inventories (+2 points to 10%) and expectations for higher real sales (+2 points to 2%) also helped lift the headline. At 15%, the latter is at a record-high level. Leading the charge was a six point increase in the share of businesses that view current inventory as being ‘too low’. ![]() November’s headline print was in line with market expectations.įour of the ten subcomponents fell on the month, four improved and two remained unchanged. The National Federation of Independent Business’ (NFIB) small business optimism index ticked up 0.2 points to 98.4 in November from 98.2 in the month prior, making for a mostly flat trend. ![]()
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