New data appearing in the Wall Street Journal shows that independent business confidence took a hit last month with many independent business owners citing inflation as their greatest concern. With confidence shaken, independent business owners are pulling back on hiring with only 12% indicating that they are planning to create new jobs in the next three months, the lowest rate since May 2020.
High inflation caused by Bidenomics is stifling economic growth and crushing independent businesses and workers. Our leaders need to work to turn this trend around and restore independent business confidence so entrepreneurs can get back to growing their business, creating more jobs, and boosting their local economy.