06 September 2012 21:18 [Source: ICIS news]
NFIB chief economist William Dunkelberg noted that the number of jobs created by small businesses in August actually dropped by a narrow 0.5% from the July level.
“Any serious job creation this year will have to come from large firms or new small firms created to meet the needs of millions of new consumers due to population growth,” Dunkelberg said.
“But existing small businesses are unlikely to expand before the election,” he said, referring to the
The NFIB’s report on small business jobs growth is in contrast to data issued earlier on Thursday indicating that US employment prospects may be improving, as private sector employers added 201,000 workers last month, and with layoffs and jobless benefits applications both in decline for August.
However, the NFIB report is seen as a cause for some concern, because US small businesses are the principal source for new jobs creation.
The US Labor Department is to report the official national employment and jobless figures for August on Friday.
The NFIB represents some 350,000 US small businesses.
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
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