The National Federation of Independent Business (NFIB) this week announced that small business optimism is at the second highest level in recorded history, according to NFIB’s survey index.
The organization’s “Small Business Optimism Index,” which has been recorded since 1973, came within a marginal .0009 percent of the record-high – which occurred in 1983 under the leadership of President Ronald Reagan. Salary and wage increases also remained strong in the latest report.
In Alabama, business is booming in line with the national trend. However, this also means that, for business owners, being able to fill available job openings is becoming harder and harder as unemployment has plummeted to record lows in the state.
Alabama’s NFIB State Director Rosemary Elebash confirmed to Yellowhammer News that the “number one issue” for job creators in the state is “hiring qualified employees.”
She explained that the surging economy is encouraging small business owners to invest in and expand their businesses.
“Our members say they like how things are going, and that means they’re more comfortable when it comes to adding positions and growing their businesses,” Elebash said in a statement.
This mirrors the national trend under President Donald Trump’s administration.
“Small business owners have never been so optimistic for so long, helping to power the second longest expansion in history,” said NFIB Chief Economist Bill Dunkelberg in a press release. “Despite challenges in finding qualified workers to fill a record number of job openings, they’re taking advantage of this economy and pursuing growth.”
For the Yellowhammer State, a light at the end of the tunnel shines when it comes to developing more qualified workers. Alabama was recently ranked as having the second-best workforce training in the nation by the economic development-focused publication Business Facilities in a new analysis that examined performance in several key economic categories.
Why? Alabama has the benefit of its chief executive understanding the challenges that businesses face.
“Here in Alabama, we are focused on workforce preparedness, because we are creating record jobs,” Governor Kay Ivey says in her latest campaign ad.
Read more about workforce development efforts in Alabama here.
Business Facilities also gave the state high marks for growth potential (fourth in the nation) and graded Alabama as having the nation’s best business climate.
“I’m committed to facilitating the creation of good jobs across Alabama and expanding opportunities for the state’s hard-working citizens,” Ivey added in a recent press release. “Our efforts have produced a lot of success lately, and we’re going to keep moving at full speed on this mission.”
Sean Ross is a staff writer for Yellowhammer News. You can follow him on Twitter @sean_yhn
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