www.NFIB.com
For Immediate Release
Contact: Cynthia Magnuson, 202-314-2036 or
cynthia.magnuson@nfib.org
WASHINGTON, D.C., October 4, 2012 - Chief economist for the
National Federation of Independent Business (NFIB) William
C. Dunkelberg, issued the following statement on the
September job numbers, based on
NFIB's monthly economic survey that will be released on
Tuesday, October 9, 2012. The survey was conducted in
September and reflects the responses of 691 sampled NFIB
members:
"The last small-business jobs report before the election is
not a good one. Indeed, September's reading was even worse
than the two previous months, with the reported net change
in employment per firm (seasonally adjusted) down 0.23. But
it isn't any wonder that small firms are not hiring; given
the tenuous political and economic atmosphere, owners are
right to remain pessimistic about the future. They have
been given little reason to increase their employment
rolls.
"There are still four million fewer people employed today
than in the first quarter of 2008. The population grows
about one percent annually, which seems to account for
about all the job growth we are getting. To further depress
employment growth, consumer spending has barely advanced
this year.
"Seasonally adjusted, 10 percent of the owners reported
adding an average of 2.2 workers per firm over the past few
months, and 13 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.
"Regionally, the only region of the country that saw any
positive job growth was the West North Central states,
largely because of energy production.
"Overall, another weak report for small-business job
creation says nothing good about our future economic
prospects. Winter is likely to set in early."
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NFIB is the nation's leading small business
association, with offices in Washington, D.C., and all 50
state capitals. Founded in 1943 as a nonprofit, nonpartisan
organization, NFIB gives small and independent business
owners a voice in shaping the public policy issues that
affect their business. NFIB's powerful network of
grassroots activists send their views directly to state and
federal lawmakers through our unique member-only ballot,
thus playing a critical role in supporting America's free
enterprise system. 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/newsroom.
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