Expectations that 1) the economy would continue to improve long term, 2) higher expectations for real sales growth in the near term, and 3) optimism that now is a good time to expand helped fuel the optimism index. The NFIB said that survey respondents warned that they were seeing much higher wage and salary costs to attract and retain talent.
As a result, most companies in the survey announced that they would seek to increase their go-to-market prices (for services or products). Here’s an interesting datapoint. Nearly 60% of the firms in the survey were trying to hire workers. Of those companies that were trying to hire, 83% of them said that they couldn’t find qualified talent. Source: Armada Corporate Intelligence