U.S. small business sentiment fell to a 10-year low in April. Worker shortages figured prominently in the pessimism from small business owners, with 45% of owners reporting that they couldn't fill job openings, an increase of 2 percentage points from a month earlier. - The data comes from the National Federation of Independent Business (NFIB)'s Small Business Optimism Index survey.
- The Index fell by 1.1 points to 89 in April ― the lowest level seen in over a decade.
- The index has been below its historical average for nearly two years.
- 24% of small businesses said that finding qualified workers was their biggest concern.
- 23% of small business owners said that inflation was their biggest problem, a drop of 14 percentage points from the peak seen last July.
- 39% said that all of their credit needs were met, and 59% said that they weren't interested in taking a loan.
- Most small business owners are pessimistic about business conditions over the next six months.
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