NFIB Jobs Report: No Clear Direction for Hiring Among Small
Small firms that added
jobs cancelled out by firms that shed workers
WASHINGTON, D.C., November 6, 2014 — Chief
economist for the National Federation of Independent Business (NFIB) William C. Dunkelberg issued the
following comments on the organization’s
October Jobs Report. The findings are
based on the NFIB monthly economic survey.
The survey was conducted in October and reflects the responses of 1,502 sampled
“While it took four years for real GDP to regain its
previous peak, it took seven years for employment to recover. Over that period,
the population grew by about 20 million and the labor force participation rate
fell. Labor markets, although improved, are still sloshy. Basically there’s no clear direction among
According to the study, roughly equal numbers of employees
were added and reduced by small business owners, producing a seasonally
adjusted net gain of zero employees per firm.
“Observers are now capitulating and calling the current jobs
performance good, but that’s because they forget what real job creation looks
like in a real expansion,” said Dunkelberg. “It’s good only to the extent that
employment isn’t shrinking. But it
signals real disagreement among small employers over whether it’s safe to add
workers, which is what the economy badly needs.”
complete statement and analysis can be viewed here. To interview him please contact Jack Mozloom
at 609-462-5610 or [email protected].
is the nation’s leading small business advocacy association, with offices in
Washington, D.C. and all 50 state capitals. Founded in 1943 to give small-business
owners a voice in public policy-making, NFIB’s policy positions are set by its
350,000 business-owner members, who send their views directly to state and
federal lawmakers through NFIB’s unique member-only ballot. NFIB’s mission is
to promote and protect the right of our members to own, operate and grow their
businesses. More information is available online at www.NFIB.com/news.