NFIB Weekly News

NFIB Weekly News Leading the News

Small Business Optimism Lower In September. (10/10/2017)

The NFIB (10/9) reported that its Index of Small Business Optimism fell from 105.3 in August to 103 in September. The decline was prompted by a sharp dip in expected sales. The percentage of small business owners expecting improved sales over the next three months fell from 27% in August to 15% in September, while the number of owners who believe the present is favorable for expansion fell by 10 points. NFIB President and CEO Juanita Duggan said, “The temptation is to blame the decline on the hurricanes in Texas and Florida, but that is not consistent with our data.” Duggan added, “Small business owners across the country were measurably less enthusiastic last month.” Meanwhile, NFIB Chief Economist Bill Dunkelberg said, “The drop-off was consistent around the country regardless of region, and it’s likely that members in Florida and Texas were underrepresented in this survey because of the obvious disruptions.” He noted, “The adjusted average employment change per firm dipped to -0.17, which is a significant drop in hiring activity.”

Business Climate

White House Seeking Fed Chair That Supports Deregulation. (10/10/2017)

Bloomberg News (10/6, Torres, Jacobs, Mohsin) reported “the White House team leading the search for the next generation of Federal Reserve leaders is seeking contenders willing to roll back financial regulations, but also with experience in monetary policy and the consensus-building skills to run a large organization, according to three officials familiar with the process.” The article added President Trump has a “shortlist of five names for Fed chair: former Fed Governor Kevin Warsh, Stanford University economist John Taylor, current Fed Governor Jerome Powell, National Economic Council Director Gary Cohn and the current chair, Janet Yellen.”

Small Business Marketing

Facebook Security Head Warns Of Fake News Dangers. (10/10/2017)

Bloomberg News (10/7, Frier) reported that Facebook Chief Security Officer Alex Stamos “warned that the fake news problem is more complicated and dangerous to solve than the public thinks.” In several Twitter posts on Saturday, Stamos “cautioned about hoping for technical solutions that he says could have unintended consequences of ideological bias.” His “comments shed light on why Facebook added 1,000 more people [to] review its advertising, rather than attempting an automated solution,” Bloomberg says.

Wages and Benefits

Trump Tells Donors He Is Determined To Move Forward On Healthcare, Calls Schumer To Work On Deal. (10/10/2017)

Politico (10/8, Isenstadt) reported that President Trump told a group of donors in North Carolina “that he was determined to push forward on healthcare reform – but acknowledged that he was facing serious obstacles in doing so.” Trump “said he wanted to restart the talks” but “two people present for the remarks” said he “underscored the challenges of getting a majority of support for any legislation in the Senate, noting that there was a small group of GOP holdouts who had opposed the repeal efforts.” Several attendees said he “did not rule out the possibility of working with Democrats to get something done.” That followed a tweet on Saturday in which the President said he had called Senate Minority Leader Schumer “to see if Democrats wanted to work together on ‘a great HealthCareBill.’”

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