Here we drill down on Small Business Optimism and Employment.
We see the NFIB Index, Small Business Optimism dipped 0.2 points in April to 104.5 it was the 6th straight month of historically high optimism, which the NFIB described as a hot streak not seen since 1983.
Five of the index components posted a gain, three components declined and two were unchanged. Nearly all of the slight decline was attributable to an 8-point drop in expected business conditions.
Headline total nonfarm payroll employment increased by 211,000 jobs in April and the unemployment rate was little changed at 4.4 percent, according to the U.S. Bureau of Labor Statistics. Job gains occurred in leisure and hospitality, health care and social assistance, financial activities, and mining.
The number of unemployed people was little changed at 7.1 million in April. Over the year, the unemployment rate has declined by 0.6 percentage points and the number of unemployed persons has fallen by 854,000.
The number of long-term unemployed was essentially unchanged at 1.6 million in April and accounted for 22.6 percent of the unemployed. Over the year, the number of long-term unemployed was down by 433,000.
The number of persons employed part time for economic reasons declined by 281,000 to 5.3 million in April. Over the past 12 months, the number of person employed part time for economic reasons decreased by 698,000.
In April, 1.5 million people were marginally attached to the labor force, down by 181,000 from a year earlier. Among the marginally attached, there were 455,000 discouraged workers in April, down by 113,000 from the previous year.
We have a healthy workforce with a natural rate of attrition.
So now is the best time to have an idea, get some partners, write a plan and take action.
Optimism is high among the people I talk to.
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