by Kevin Zimmermann
UNDATED (WHBL) – Numbers released from the National Federation of Independent Business in Wisconsin puts the Coronavirus pandemic in hard perspective. Bill Smith, NFIB State Director in Wisconsin said on Tuesday that: “The March Economic Trends Report clearly documents both the urgency and difficult challenges faced by small business owners during this crisis.” He added that there’s hope that federal funds will ease that uncertainty.
The NFIB Small Business Optimism Index fell over 8 points in March to 96.4, the largest monthly decline in the survey’s history, while the Uncertainty Index rose 12 points to 92, the highest level since March of 2017. Retail sales expectations in the next six months declined 31 points to a net-negative 12%, the largest monthly decline in the survey’s history, and job openings fell to 35%. Most of those survey responses came in the beginning of the month, so a sharp decline in employment isn’t reflected in the results. Even so, a lack of qualified workers remained the number-1 problem for almost a quarter of small businesses surveyed.
