The Small Business Optimism Index rose to the second highest level in its 45-year history in July, according to the National Federation of Independent Business.
The 107.9 reading was a tick away from the record set in July 1983, and was up 0.7 points from June.
The report also hit record highs for owners reporting job creation plans and job openings, according to a release. “A seasonally-adjusted net 23 percent are planning to create new jobs, up three points from June,” the survey said. “Thirty-seven percent of all owners reported job openings they could not fill in the current period, a one-point increase from June.”
"Small business owners are leading this economy and expressing optimism rivaling the highest levels in history," said NFIB President and CEO Juanita D. Duggan. "Expansion continues to be a priority for small businesses who show no signs of slowing as they anticipate more sales and better business conditions."
The survey found reports of compensation increases “strong.”
"Small business owners have never been so optimistic for so long, helping to power the second longest expansion in history," said NFIB Chief Economist Bill Dunkelberg. "Despite challenges in finding qualified workers to fill a record number of job openings, they're taking advantage of this economy and pursuing growth."
