Another serious concern for business owners is rising inflation. Approximately 15% of owners (seasonally adjusted) raised average selling prices, up three points from the prior month.
Small-business owners are "raising their own prices at the fastest pace seen in years," the NFIB says
Small firms are on the fence about hiring.
According to the NFIB, small businesses increased employment by just 0.01 per firm over the past three months -- virtually zero.
- 12% (seasonally adjusted) reported unfilled job openings, down 2 points and a "clear signal" that unemployment rates will rise
- 13% plan to hire over the next three months (down 3 points from April and down 5 points from March)
- 8% plan to reduce their workforce (up 2 points).
Last month, the smallest businesses across the U.S., hampered by high gas prices and natural disasters, added just
in the four weeks ending May 23, according to the Intuit Small Business Employment Index.
--Written by Laurie Kulikowski in New York.
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