• The National Federation of Independent Business reported that the Small Business Optimism Index was unchanged at 93.2 in April, remaining the lowest level since April 2020. Supply chain disruptions, workforce shortages and inflation continued to challenge small business owners.
  • Small business respondents in the NFIB survey cited inflation as the top “single most important problem,” followed by difficulties in obtaining enough qualified labor. The labor market remained tight, with 47% saying that they were unable to fill job openings, and 55% suggesting that there were few or no qualified applicants for their job openings
  • While initial unemployment claims inched higher in the latest data, continuing claims fell to their lowest level since the week ending Jan. 3, 1970.