Monday, May 10, 2010

Small Business hiring "Bleak"

by Calculated Risk on 5/10/2010 10:43:00 PM

Note: this is the employment section of the April survey that will be released Tuesday.

From the WSJ: At Small Businesses, Hiring Still Drags

April marked the 27th consecutive month in which small businesses either shed more or the same number of jobs that they added, according to a monthly survey to be released Tuesday by the National Federation of Independent Business, a trade group in Washington, D.C. Since July 2008, employment per firm has fallen steadily each quarter, logging the largest reductions in the survey's 35-year history. Going forward, more small-business owners say they plan to eliminate jobs compared with those that expect to create new jobs over the next three months.
And from the National Federation of Independent Business: Jobs Picture Still Bleak for Small Business
“The steep recession will unlikely be followed by a steep recovery, the numbers just aren’t moving in that direction. [said William C. Dunkelberg, chief economist for the National Federation of Independent Business] "April marks the 27th consecutive ‘no new jobs’ monthly reading."

“There is little enthusiasm among owners to hire more workers, primarily due to continued weak sales trends.”