New statistics regarding the U.S. unemployment rate are not at all good; in short, they express that it's at a 26-year high, hitting 10.2 percent in October. And the latest data regarding small business jobs isn't so great, either, as it looks like positions will continue to be cut for a while.
William C. Dunkelberg, the National Federation of Independent Business's chief economist, said in a statement, "Small business owners in October reported a decline in average employment per firm of 0.5 workers (seasonally adjusted) during the third quarter (prior three months to the survey) . . ."
Also, 16 percent of small business owners said that they intend to further reduce employment over the next three months.
Still, it's important to note that things could be worse. It seems that the rate at which workers are being cut is decreasing, perhaps indicating that we're coming out of the recession. There's not even that much of a difference between the number of small business owners who intend to hire people instead of fire them (7 percent), so these trends might soon reverse.
In the meantime, you may be able to find some very good people who would be thrilled to work for you at a reasonable rate.
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Comments
Not Surprising
This is not surprising with Consumer Spending at a 65 year low. Things will pick up though, the economy is going through one of its cycles. There will be plenty of opportunities as we climb out of it, look at the history.
Small Businesses Trim Job
In the depths of the economic downturn, many small businesses have been forced to trim jobs in order to stay in the black. And unlike large corporations, a single departure from a small business can drastically change day-to-day operations.
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