June job creation doesn't look so good
A couple of reports on June's job creation are out, and they are less than encouraging
Michael Kligel, left, talks to Vons Employment Representative, Debra Baker, about administrative job positions at a job resource fair organized by the Hollywood and Miracle Mile chambers of commerce and CCD/Wilshire Metro WorkSource, at the Woman's Club of Hollywood Friday, May 20, 2011, in Los Angeles. So far, reports show that job creation was slow. The Bureau of Labor Statistics will release an official report on Friday.
Damian Dovarganes / AP / File
Two reports on small business job creation were released today. The bottom line is that there is little evidence that small businesses are ready to lead us out of this long and hard recession.
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Jeff is the Jack C. Massey Chair in Entrepreneurship and Director of the Center for Entrepreneurship at Belmont University in Nashville, Tenn.
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The Intuit Small Business Employment Index rose ever so slightly in June, showing employers adding a small number of jobs and slight increases in hours worked and compensation.
But the NFIB survey were less encouraging.
"Seasonally adjusted, 9 percent of owners hired new employees last month, a 1 point decline from May, while 16 percent reduced employment, a 3 point increase", said William Dunkelberg, Chief Economist of the NFIB. "The remaining 75 percent of owners made no change in employment. Manufacturing was the only winning sector to post average positive net growth; but job losses were posted by firms in financial, non-professional services, construction, negating any gains made."
Both surveys found some hope for July, but we have seen the optimism among entrepreneurs rise and fall throughout this long economic morass.
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