3 reasons small biz plans to hire and pay more

Small business owners are feeling the most optimistic about their prospects since before the Great Recession, said Stuart Hoffman, chief economist at PNC Financial Services.

And that could translate into more jobs, he told CNBC's "Squawk Box" on Thursday. The PNC survey of small businesses also showed a willingness by owners to give out pay raises.

In this video, Hoffman gives three reasons why these rosy feelings are supported by the numbers.