William C. Dunkelberg, chief economist for the National Federation of Independent Business, issued the following statement this morning on February job numbers based on NFIB’s monthly economic survey that will be released on Tuesday, March 9. The survey was conducted through February 28 and reflects 799 small business owner respondents:
“In February, small business owners reported a seasonally adjusted decline in average employment per firm of negative 0.13 workers during the prior three months, an improvement from the January reading of negative .52 workers per firm. Ten percent of the owners increased employment by an average of 5.0 workers per firm, but 19 percent reduced employment an average of 3.2 workers per firm (seasonally adjusted). Lower layoffs and jobs from new firms should produce a better jobs number, but it won’t be great. There still isn’t any energy in hiring.”