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This chart of small business optimism puts into perspective just how awful things have been for the past several years. Since 1974 we've had six recessions, but none have come even close to the distress caused by the last one. Plus, the recovery from the last recession has taken far longer than any others. Nevertheless, it remains the case that things are improving on the margin, and that's what is most important today. Lots of room for improvement still, but we're on the right track.
1 comment:
Thank you for showing this. It is definitely an uneven recovery, which is why the majority of Americans still believe we are in recession. Unlike 40 years ago, job creation is at the small business level, and this low absolute level of confidence does not bode particularly well for hiring.
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