Almost one out of five small businesses plan to hire new employees over the next three months, according to the latest survey from the NFIB. With the exception of the "dot com" boom, the survey indicated the highest job-creation level in its history: during the next three months, 18 percent plan to create new jobs, while only 6 percent plan reductions, yielding a seasonally-adjusted net 19 percent (net 12 percent seasonally unadjusted) planning to create new jobs. Job-creation plans are positive in all industries. In addition to these new job openings being planned, more than 50% of the small businesses surveyed report trying to fill existing positions. But, they continue to report difficulties, with 80% report few or no qualified applicants.
Traditional business media seems to be a collectively puzzled by our true economic conditions. Why given the bad news coming out of so much of traditional corporate America do we still have such strong employment and a growing economy? The answer -- when you only focus on half of the economy you are going to miss some important data. GM lays off 10,000 workers and it is major headlines. Small businesses add 100,000 new jobs and it goes almost unnoticed.
