Out Of Nowhere, The NFIB Just Sent Out This Warning: “Job Creation On Main Street Has Collapsed”
Jun. 3, 2011
Here’s a pre-NFP shocker.
The NFIB — the small business organization that regularly measures the pulse of small business economic activity — just sent out a warning on the jobs situation (via @edwardnh).
WASHINGTON, D.C., June 2, 2011 — Chief economist for the National Federation of Independent Business (NFIB) William C. Dunkelberg, issued the following statement on May job numbers, based on NFIB’s monthly economic survey that will be released on Tuesday, June 7, 2011. The survey was conducted in May and reflects 733 randomly-sampled small-business owner respondents:
“After solid job gains early in the year, progress has slowed to a trickle. The two NFIB indicators—job openings and hiring plans—that predict the unemployment rate both fell, suggesting that the rate itself will rise.
“May’s job numbers will disappoint; meaningful job creation on Main Street has collapsed.