Another sign of inflation. According to a survey out by Axios:
Here’s a fresh snapshot of America’s small business recovery — in four charts — according to a closely watched survey out today.
- Never before have so many small businesses reported unfilled jobs. In response, a record share are planning pay hikes to attract workers.
- The percentage planning to raise their prices is the highest in almost 50 years: [I]nflation is squeezing profits … so firms are raising selling prices,” says Bill Dunkelberg, chief economist at the National Federation of Independent Business, the lobbying group that conducts the survey.
Why it matters: The same problems plague their giant counterparts, but Main Street has less of a buffer — not to mention fewer resources — to cope.