The NFIB Small Business Optimism Index in the US fell to 98.2 in October 2025, the lowest in six months, from 98.8 in September and compared to forecasts of 98.3. "Optimism among small businesses declined slightly as owners report lower sales and reduced profits. Additionally, many firms are still navigating a labor shortage and want to hire but are having difficulty doing so, with labor quality being the top issue for Main Street", NFIB Chief Economist Bill Dunkelberg said. Meanwhile, 32% of all owners reported job openings they could not fill, unchanged for the second consecutive month. 27% of small business owners cited labor quality as their single most important problem, up 9 points from September. A net negative 13% of all owners reported higher nominal sales in the past three months, down 6 points from September. Both actual and planned price increases fell from the previous month while the net percent of owners expecting better business conditions fell 3 points to a net 20%.