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SPRING 2013

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Distributor's Link Magazine Spring Issue 2013 / VOL 36 / NO.2

82 THE DISTRIBUTOR’S

82 THE DISTRIBUTOR’S LINK The National Federation of Independent Business 53 Century Blvd, Suite 250 Nashville, TN 37214 Toll Free: 1-800-634-2669 Tel: 615-872-5800 www.nfib.com NFIB JOB STATEMENT: HISTORICALLY LOW RATES OF JOB CREATION BUT TREND IS IN THE RIGHT DIRECTION Chief economist for the National Federation of Independent Business (NFIB) William C. Dunkelberg, issued the following statement on the February job numbers, based on NFIB’s monthly economic survey that will be released on Tuesday, March 12, 2013. The survey was conducted in January and reflects the responses of 870 sampled NFIB members: “If anything positive can be said about job creation among small firms in February, it’s that it didn’t decline. NFIB’s study showed a slight improvement over the January reading, with the average change in employment per firm increasing to 0.1 - up from 0.09 workers per firm during the previous month. The increase is small, but the trend is in the right direction for a change. Ten percent of the owners (down 1 point) reported adding an average of 3.5 workers per firm over the past few months. Offsetting that, 12 percent reduced employment (up 3 points) an average of 2.5 workers (seasonally adjusted), producing the small gain of 0.1 workers per firm, overall. The remaining 78 percent of owners made no net change in employment. Forty-four (44) percent of owners surveyed hired or tried to hire in the last three months and 34 percent (77 percent of those trying to hire or hiring) reported few or no qualified applicants for open positions. Jobs Line Graph “Twenty-one (21) percent of all owners reported job openings they could not fill in the current period, up 3 points from January and up 5 points from December. While an unimpressive number, this measure is highly correlated with the unemployment rate, and suggests a minor improvement in the unemployment rate. “Job creation plans rose 1 point; a net four percent of owners expressed plans to increase total employment. Again, this is historically weak but 3 points better than December, so at least the trend is positive. Not seasonally adjusted, 17 percent plan to increase employment at their firm (up 5 points, up 10 points from December), and seven percent plan reductions (down 1 point from January and down 4 points from December). “Overall, labor market indicators improved in February, building upon the modest gains of December and suggesting the possibility of better job creation and reduced unemployment numbers. However, keep the champagne on ice: employment is still below its 2008 level, so there is a long way to go before our economy is healthy and employment is restored to its pre-recession level. A continued rebound in the labor intensive housing industry will certainly help a lot.”

THE DISTRIBUTOR’S LINK 83

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