WASHINGTON (MNI) – The following is the text of a statement
Thursday by Willliam Dunkelberg, chief economist for the National
Federal of Independent Business, commenting on May’s job numbers based
on the NFIB’s monthly survey to be released next week:
“Since January 2008, the average employment per firm has been
negative every month, including May 2010, which yielded a seasonally
adjusted loss of negative 0.5 workers per firm. Most firms did not
change employment in May, but for those that did, 8 percent increased
average employment by 2.4 employees and 20 percent reduced their
workforces by an average of 4 employees. Small business job creation has
not crossed the 0 line in over 2 years. Government (including healthcare
and education) and manufacturing (a large firm activity) are providing
what few jobs are created.
“The number of owners with unfilled (hard to fill) openings fell
two points to 9 percent of all firms, historically a weak showing.
“Over the next three months, 7 percent plan to reduce employment
(unchanged), and 14 percent plan to create new jobs (unchanged),
yielding a seasonally adjusted net 1 percent of owners planning to
create new jobs, a gain of two points and the first positive reading in
19 months.
“Overall, the job creation picture is still bleak. Poor sales and
uncertainty continue to hold back any commitments to growth, hiring or
capital spending … job creation plans have been running far below
comparable quarters in the recovery from two other major recessions. The
May figure is 1 percent, it’s above the ‘0’ line but still weak.”
** Market News International Washington Bureau: 202-371-2121 **
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