Small Business

Small Businesses Firing More than They're Hiring

First decline of the year


Small business lending and optimism are on the rise, according to several recent reports.

Small business hiring — not so much.

Employment at small firms declined an average of 0.04 workers per company in May, according to a new report by the National Federation of Independent Business. It marks the first decline of the year, following five straight months of growth that had many hoping small businesses were finally finding their footing.

Bill Dunkelberg, the group's chief economist, noted that future hiring plans took a dip last month, too — "not a sunny outlook for the summer months," he said.