Small business owners are more optimistic about their prospects than at any time since the before the Great Recession, a new survey shows.

The National Federation of Independent Businesses' Optimism Index rose 1.4 points in May to 96.6, the third straight monthly gain and its highest reading since September 2007. "This is one of the best readings since mid-2007, with the exception of a few months in early 2012 when the economy made an attempt to pick up the pace of economic growth," the trade group said.

Several trends point to better days ahead for small businesses, according to the NFIB. Although rising labor costs are keeping pressure on earnings, profit trends are improving. That is persuading at least some small business owners, who saw revenue plunge following the 2008 financial crisis, to start hiring again.

Seasonally adjusted employment increased by an average 0.11 workers per firm in May, according to the survey, the eighth consecutive positive reading and the longest string of monthly gains since 2006. The percentage of small businesses planning to add workers rose 2 points to 10 percent in May.

http://www.cbsnews.com/news/small-business-optimism-up-to-pre-recession-levels/