NFIB Optimism Falls for Second Month as Labor Concerns Persist

Small-business optimism fell for a second straight month in September, with the National Federation of Independent Businesses’ reading dropping to 97.9 from 98.7 in August.

Labor quality and availability remained owners’ leading concern for a third consecutive month, followed by inflation, according to the NFIB survey. The July reading of 99.8 was the highest of 2026.

“Small business owners are proceeding with caution,” NFIB Chief Economist Bill Dunkelberg said.