Jobs – America’s Small Firms to Lead Nation Out of Recession?

15 July 2003

Ten percent of America’s small companies plan to add to their payrolls during the next three months, reports the National Federation of Independent Business.

And that’s not all. Forty-eight percent of owner expect business conditions to improve within six months, bettering all similar NFIB indices since March 2002. According to the organization’s chief economist William Dunkelberg, this yardstick of optimism has led every US period of growth over the last thirty years. “It is certainly sending a strong signal now,” he beamed.

Small business hiring is a key element of the US economy, the nation’s 5.8 million small companies accounting for nearly 50% of America’s workforce. If NFIB members’ intentions translate into action, it will make a significant beneficial impact on the current nine-year high of 6.4% unemployment.

Data sourced from: USA Today; additional content by WARC staff