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 August 2016 and reflects a random sample of 10,000 small-business owners/members.
Small Business Employment Outlook Still Dull in August
NFIB data shows that more owners are sitting on job openings, but less plan to hire
NFIB’s chief economist William C. Dunkelberg, issued the following comments on NFIB’s August 2016 Jobs Report:
The small business employment outlook remained negative in August, as job creation fell flat and owners still struggled to find qualified workers for open positions, according to the Jobs Report released today by the National Federation of Independent Business (NFIB).
“Month after month we see small business owners looking for ways to be more fiscally efficient because of heavy-handed government mandates,” said NFIB Chief Economist William C. Dunkelberg. “Regulations that lead to higher labor costs discourage small business owners from investing and hiring new employees.”
Job creation among small firms was negative for the third straight month, according to the NFIB report. Owners reported recovery high levels of job openings that they could not fill.
Compensation levels increased marginally, a sign that owners are trying to find and retain good employees. In fact, 15 percent of small business owners say that finding qualified workers is their most important business problems.
“Policymakers clearly don’t understand that without a robust small business sector, the economy will continue to lag,” Dunkelberg said. “Overall, this month’s report was basically unchanged and small business owners will likely continue to be in maintenance mode through the rest of the year.”
NFIB’s August Jobs Report is based on the NFIB monthly Small Business Economic Trends survey. The survey was conducted in August and reflects the response of 730 small businesses.
The full Small Business Economic Trends report will be released on Tuesday, September 13th
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