More small businesses shed employees in September than added new employees, according to the latest survey from the National Federation of Independent Businesses (NFIB). The net change in seasonally adjusted employment per business fell 0.23%.
The NFIB’s chief economist said:
Seasonally adjusted, 10 percent of the owners reported adding an average of 2.2 workers per firm over the past few months, and 14 percent reduced employment an average of 3 workers. The remaining 77 percent of owners made no net change in employment. Fifty-one (51) percent of the owners hired or tried to hire in the last three months and 41 percent (80 percent of those trying to hire or hiring) reported few or no qualified applicants for open positions.
The percent of owners reporting hard to fill job openings fell 1 point to 17 percent of all owners. Not seasonally adjusted, 10 percent plan to increase employment at their firm (down 3 points), and 11 percent plan reductions (up 2 points). Seasonally adjusted, the net percent of owners planning to create new jobs fell 6 points to four percent, a historically weak reading, especially in a recovery.
The only area of the country will positive job growth in September was the West North Central region, where energy production is booming and unemployment rates are much lower than the national average of 8.1%.
The NFIB’s September job report is scheduled for release on October 9th.
Paul Ausick
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
