Small business’s five-month hiring streak ended in May. Small employers reported an average gain of -0.04 workers per firm last month, according to the National Federation of Independent Businesses. In April, small businesses saw an average increase of 0.14 employees per firm, which was the fifth consecutive month of growth reported by NFIB.
NFIB’s chief economist, William Dunkelberg, says small business growth “can’t seem to maintain any steam,” and he points to Washington for the reasons why.
"Owners are still quite pessimistic about economic recovery, though far less so than six months ago,” Dunkelberg says in a statement previewing NFIB’s May jobs survey—to be published in full on June 11. “It will take a marked improvement in sales to convince them to hire more workers and prospects for that are not good."
NFIB’s survey reveals that most small employers made no staff-size changes over the past few months, 12 percent cut an average of 3 workers and only 9 percent added an averageRead More »from Small biz growth streak suffers a reversal