The National Federation of Independent Business is out with a report this morning that should be causing some concerns for the broader economy when you consider that it is supposed to be small businesses which add the most jobs during a recovery period.  The group’s small business sentiment indicator fell for the month of March after having risen for six consecutive months.

The new report on the small-business optimism index fell down to 92.5 in March from 94.3 in February.  It also shows a growing concern and a tempering of optimism over employment, earnings, and even over inventory levels.

The report from the economist of NFIB now even calls the employment growth a blip rather than a trend in job growth.  Sadly, this also called the start of a recovery in profits as having fizzled out.

Before thinking it was a one-off, consider that nine of the ten components here took a dive.

JON C. OGG

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