US small business optimism the highest in 35 years
Sign economy can sustain higher economic growth
The National Federation of Independent Businesses reports that the small business confidence index rose to the highest level in more than a generation. That’s a positive sign for the US economy, which typically depends on small business hiring for most employment growth.
During the 2010-2015 quasi-recovery, large companies accounted for virtually all new jobs. The revival of small business, a key part of the “Trump trade,” suggests that US can sustain economic growth at around 3% instead of the anemic 2% or so during the Obama years.