With second and third quarter GDP readings north of 3% at an annualized rate, we now have quantifiable evidence of the heath of Small Business in the United States. The October 2017 U-3 measure of unemployment was 4.1%, which is a 17 year low, and down 0.7% from October 2016 read of 4.8%. The next unemployment report is Friday December 8, 2017.
Also in 2017 we noticed an uptick in Interest Earned on Business Savings Accounts and Business Certificate of Deposit Accounts which is good for strengthening Balance Sheets, Cash Positions and Loan Collateral.
Inflation remains low and is not a threat to the economic expansion even as oil and gasoline prices did rise in 2017, at Vilnius Industries we expect the US Shale Producers to add rigs in the months to come which should cap crude oil prices at $65.00 per gallon in 2018. This is important because most of the online economy delivers their goods and products via trucks that consume oil and oil byproducts.
2017 was a good year for Small Business as a whole.