US small business optimism slips in July amid labour shortages

Optimism among small business owners in the US waned last month due to difficulty of finding more workers and ongoing supply chain disruptions.

The National Federation of Independent Businesses's small business optimism index slipped by 2.8 points in July to reach 99.7.

"As owners look for qualified workers, they are also reporting that supply chain disruptions are having an impact on their businesses," said NFIB Chief Economist Bill Dunkelberg.

According to the business lobby group, labour shortages remained the biggest challenge with the level of unfilled job openings hitting a 48-year high.