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NFIB Data Shows US Small Business Hiring Grows In July. (08/08/2017)

The NFIB reports that its Index of Small Business Optimism climbed 1.6 points in July from June for a reading of 105.2, boosted by gains in hiring. Of the 10 components of the index, seven saw improvements for the month, with job openings seeing the largest improvement, rising 5 points from June to July. NFIB President and CEO Juanita Duggan said, “Strong consumer demand is boosting small business optimism.” Duggan added, “Small business owners are feeling better about the economy because their customers are feeling better about the economy. This is a good trend that we hope continues.” NFIB Chief Economist Bill Dunkelberg added, “Sixty percent of small business owners reported hiring or trying to hire in July.” However, he noted, “Within that group, 87 percent said they had a tough time finding qualified workers. The labor market is getting very tight, and the problem is most severe in the construction and manufacturing sectors.”

Reuters (8/4, Chin) added that “the percentage of U.S. small business owners saying they planned to add to payrolls in July exceeded those with plans to cut jobs by 19 percentage points on a seasonally adjusted basis,” which was “the strongest reading since December 1999.”