GDP growth rebounded slightly in the second quarter, 2014 is still shaping up
to be another year of subpar growth and low small business optimism.
“Consumer spending has been weak, spending on plants and equipment has
been modest, and government purchases have been restrained,” says NFIB
economist Bill Dunkelberg.
Dunkelberg says unemployment is still alarmingly high at 6.3% – and that we’ve
largely reached that meager rate because of people leaving the workforce, not
by growing jobs.
Small businesses have typically
accounted for half of GDP and employment. However, during this
recovery, large firms have benefited from government policies, while small
firms have suffered from Obamacare, overregulation and higher taxes.