Small businesses across the US are not optimistic about the state of the current economy, according to the most recent data from a MetLife, US Chamber of Commerce Index report.
Of those surveyed, just 25% of small business owners say the U.S. economy is in "good health," and only 30% believe their local economy is in good health, according to the data. Both the low percentage results are down eight percent from a similar index put together last quarter.
Despite low confidence measures in the economy, two-thirds of businesses (64%) say the health of their own business is "very" or "somewhat" good.
A worker shortage and keeping up with salary demands remains a concern for small businesses. The data shows 54% of businesses say it's difficult to find a candidate with experience while 52% said they are struggling to find workers with the right skills.
Additionally, more than of businesses searching for workers in 2023 said it was "hard" to offer competitive pay benefits, with 60% of those saying it's a challenge to "keep up with existing employees' salary expectations."