US Small-Business Optimism Falls to 95.3 as Rising Fuel and Inflation Squeeze Margins
Updated
Updated · The Guardian · Jun 22
US Small-Business Optimism Falls to 95.3 as Rising Fuel and Inflation Squeeze Margins
2 articles · Updated · The Guardian · Jun 22
Summary
The NFIB Small Business Optimism Index slipped 0.6 points to 95.3 in May, reflecting weaker confidence as owners faced higher fuel bills, inflation and broader economic uncertainty.
29% of owners reported jobs they could not fill—the lowest share since the Covid-19 pandemic—while 13% cited labor quality as their top problem and 14% pointed to labor costs.
Across sectors, owners said cost pressures were colliding with softer demand: an Alabama blinds seller reported falling sales and higher shipping charges, while a San Diego refill shop said foot traffic held up but customers bought less.
Fuel costs were a particular strain for travel-dependent businesses, with an Alaska pet sitter and a Tennessee bed-and-breakfast owner warning that pricier transport could force rate increases and curb vacation spending.
Some owners are already cutting hours, delaying inventory orders or shifting toward emergency work, underscoring how persistent cost increases are reshaping hiring, pricing and retirement plans.