Small Business And Entrepreneurship Council Say Agenda Shifts Needed For More Jobs
Written by Jenna Weiner
Although June's jobs report came as a shock to many people, experts say that disappointing job growth figures are in line with expectations.
According to the Small Business and Entrepreneurship Council Chief Economist, June's news for small businesses regarding poor job growth shouldn't come as a surprise.
"Why are so many people surprised by the abysmal jobs data released this morning?" SBE Council Chief Economist Raymond Keating said. He said that government spending, increased regulation and higher taxes have not helped small businesses grow new jobs.
Figures released today from the U.S. Department of Labor showed that 44,000 fewer jobs were created in April and May than previously thought.
A May 31 SBE Council survey found that 76 percent of small businesses were dissatisfied with economic policies.
Keating said the only way new jobs will come about is if government policy shifts toward substantive and permanent tax relief, good money policy and smaller government. He said no matter how it's looked at, job growth has been "terrible" for June.
On the other side, this week's ADP National Employment Report said that non-farm private payrolls increased by 157,000 in June. This means that employment growth has matched workforce growth. The ADP said small businesses saw an 88 job increase from May to June.
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