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NFIB Weekly News

NFIB Weekly News Leading the News

NFIB: COVID-19 Mandates, New Taxes Would Present Hardship For Small Businesses (09/21/2021)

Fox News (9/13) “The Faulkner Focus” featured NFIB member Jerry Akers, owner of 36 Great Clips in Iowa, discussing the Administration’s new COVID-19 mandates. Akers was quoted saying, “What more can we handle? What more can a small business absorb with everything that’s been going on in the last two years? We’ve had to pay for so many things, the enhanced cleaning of the stores and those kinds of things. The cost just gets exorbitant and small business has to pass that along to their customers so the American public will end up paying for that.”

WBOI-FM Fort Wayne, IN (9/13, Horton) reported that major companies in Indiana have said they will require employees to be vaccinated for COVID-19, “but many other Hoosier businesses say the Biden administration’s proposed mandate to require vaccines or weekly testing goes too far.” NFIB Vice President of Federal Government Relations Kevin Kuhlman “said it could be ‘costly and burdensome’ to small businesses and that, ‘additional mandates, enforcement, and penalties will further threaten the fragile small business recovery.’”

Business Climate

US Consumer Sentiment Worse Than Expected With Continued Inflation Worries (09/21/2021)

Bloomberg (9/17, Rockeman) reported the University of Michigan on Friday issued its findings that “U.S. consumer sentiment rose slightly in early September but remained close to a near-decade low, while buying conditions for household durables deteriorated to their worst since 1980 because of high prices.” The university’s “preliminary sentiment index edged up to 71 from 70.3 in August,” which “trailed the median estimate of 72 in a Bloomberg survey of economists.”

Reuters (9/17, Burns) reported, “U.S. consumer sentiment steadied in early September after plunging the month before to its lowest level in nearly a decade, but consumers continue to have a bleak view of the outlook amid a stiff bout of inflation.” Reuters adds that “Economists polled by Reuters had forecast a reading of 72.”

Small Business Marketing

UPS Spends $2.8M With Small Business (09/21/2021)

The Atlanta Business Chronicle (9/16, Subscription Publication) reported behind a paywall, “UPS spends more than $2.8 billion with small businesses, including $1 billion with diverse and minority-owned firms. The company also participates in the Georgia Minority Supplier Development Council program.”

Wages and Benefits

Initial Jobless Claims Fell To 310K Last Week (09/14/2021)

Bloomberg (9/9, Shah) reported the Labor Department revealed on Thursday that “applications for U.S. state unemployment benefits fell last week by the most since late June as the labor market continues toward a full recovery. Initial unemployment claims in regular state programs decreased to 310,000 in the week ended Sept. 4.” Meanwhile, “Continuing claims for state benefits fell to 2.78 million in the week ended Aug. 28.”

The AP (9/9, Rugaber) said the 310,000 claims is a “pandemic low and a sign that the surge in COVID-19 cases caused by the delta variant has yet to lead to widespread layoffs.” According to the AP, “The ongoing drop in applications for unemployment aid – six declines in the past seven weeks – indicates that most companies are holding onto their workers,” which “should help sustain the economic rebound through the current wave of infections.” The Wall Street Journal (9/9, Omeokwe, Subscription Publication) provided similar coverage.

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