NFIB Small Business Jobs Report
The NFIB Research Foundation has collected Small Business Economic Trends data with quarterly surveys since 1974 and monthly surveys since 1986. Survey respondents are drawn from NFIB’s membership. The survey was conducted in April and reflects the responses of 1,500 sampled NFIB members.
Despite Last Month’s Forecast, Hiring Activity Remained Solid
NFIB jobs report showed small business owners have been hiring at a decent rate during 2015
NFIB’s chief economist William C. Dunkelberg, issued the following comments on NFIB’s April 2015 Jobs Report:
“The net percent of owners reporting an increase in employment fell 1 percentage points to a net -2 percent of owners, down substantially from the recent high of 9 percent in December 2014. But, those that hired were more aggressive, producing an average increase in workers per firm was 0.14 workers per firm, continuing a string of solid readings for 2015. Thirteen percent reported raising and 13 percent reported reducing employment. Those increasing employment added an average of 3.5 workers while those reducing their workforce cut an average of 2.8 positions, seasonally adjusted. Fifty-three percent reported hiring or trying to hire (up 3 points), but 44 percent (83 percent of those hiring or trying to hire) reported few or no qualified applicants for the positions they were trying to fill. Thirteen percent reported using temporary workers, up 3 points.
“Twenty-seven percent of all owners reported job openings they could not fill in the current period, up 3 points from March. Strongly correlated with the unemployment rate, the April reading anticipates no worsening and perhaps a decline in the unemployment rate.
“A net 11 percent plan to create new jobs, up 1 point and a solid reading.
“Reported hiring was strong, with a net addition of 0.14 workers per firm, adding on to solid performances year to date. The report of March job creation seemed off the mark and was inconsistent with independent market meaures such as the NFIB survey. Although the GDP report was lousy for Q1, a substantial revision in March job figures seems likely, the weather wasn’t that bad.”
Share the full report: