The last time we checked in on small business optimism was June, 2016—at that time the Dow Jones Industrial Average (DJIA) was at 17,829, the US unemployment rate was about 5%, inflation was at 1%, and economists declared the market booming; yet small business owners were less than optimistic about business conditions and the outlook for future growth.
Fast forward 9 months, and we have a new President, the DJIA has reached record highs (over 21,000, with a slight pullback to just under that number today), the unemployment rate is holding steady (4.9% at last report), and inflation has risen to 2.7% prompting the Federal Reserve to raise interest rates once again. Fears of rampant inflation aside, the economy appears on a tear. And finally, small business owners are seeing a light at the end of the tunnel, and apparently optimistically no longer fear it to be a truck.
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