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NFIB Chief Economist Bill Dunkelberg on December’s small-business optimism reading, which is the second-lowest score since March 2010.
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Mile per -- American small business confidence while it rose slightly in December but it still of its second lowest level.
He nearly two years this according to a new survey by the National Federation of Independent Business its chief economist build uncle -- joining us now bill has always.
Thank you are so.
What is the biggest concern of small business owners right now what does the survey show you as far as the biggest fear full business and is right.
Now.
Well as kind of a triple header.
Obviously sales are not good so we have 90% saying that's their top problem that's down a couple percentage points.
But 23% said taxes so there you go that's the big issue for December -- is talking about what tax rates are actually going to be -- now we know.
But it does mean we're happy about them but we know what they are that's helpful.
And the other one is the for an -- Cost of useless regulations and red tape that -- drives them nuts I was 21% so that's the -- effective so to speak you know.
We're up a little bit bill.
From the last time we talked last time really -- survey got killed because of the election everyone was worried.
Now we're in this election -- you stick any sense that they're gonna start to maybe.
I don't know see some sort -- light at the end of the toddlers it's -- -- be doom and gloom for the next four years.
Well it could be that along with so -- I certainly think it's doom and gloom for the next six months because.
We didn't -- me we really kind of will over the cliff in fact we can't we couldn't really avoid going over the so called fiscal cliff.
It was just a question of how we did and you know what taxes how much spending cuts.
And of course we did the -- we kicked almost the is spending cuts down the road another ten kicker there so we don't know what that's going to be.
We've got -- health care coming on we've got the big debate over the debt ceiling and what that's gonna do me so there's still a whole lot of trash out there to clean up.
Before we kind of have a clear view of the future in the -- -- -- -- whether we like it or not.
Right now we don't like give 45% of the owners said next than six months the economy will be worse than it is today.
So with that in mind -- -- assuming small business are critical to employment in this country -- not going to be hiring in the short term at least.
Right do they don't expect their sales to grow so therefore they don't have a good reason -- higher.
Employees to take care customers that they don't have -- that's the real issue they need to see the economy being better they need to have.
The sense that we're on the right path Soviet come they can invest money knowing they'll get a payoff in the future.
-- of course we already know that pay -- was can be taxed more highly so let's not real helpful -- -- still if you go profits growing you know mind paying taxes on.
You know one of the things -- -- interesting was that the quality of labor is a concern to a lot.
The respondents does that mean that we don't have that we don't have enough people trained to do the jobs we need filled.
I would certainly have mismatches and and that could tends to be approve a perennial problem for these people they they tell us that.
Most of -- -- that most of the other job openings they have don't have qualified applicants for them.
Now we -- the special study that interestingly a big chunk of that has to do with the not with -- -- -- school laying lower.
No lack of math skills which are curable thing to -- -- -- both.
Are more important things like.
Bad attitude don't know how to dress don't have good work skills so good that I think.
Those kinds of things also get you turn down a more more of kids are turning up -- drug problems and bad attitudes and so young people.
Could fix those things really easily if they really wanted to get these jobs.
That's really shocking actually said.
It is almost embarrassing it is embarrassing and this notice through -- -- Finland -- uncle but I and if IP bill were already at a time but thank you so much.
Brings up a really interesting point one haven't heard that much but well lack of a qualifying I -- Hi in lazy basically coming up correct these -- so good.
