Posted on 12/17/2008 1:26:12 PM PST by 2ndDivisionVet
Statistics show that small-business hiring is at a standstill, but some companies are finding creative strategies to retain workers for the next upturn.
When it comes to hiring, the news has been brutal. In early December, the Bureau of Labor Statistics reported that 533,000 jobs were shed in November. It was the 11th straight month of job losses, pushing the unemployment rate to 6.7%. Adding to the dismal set of numbers, November also marked the largest one-month job loss since December 1974.
As 2008 rolls to a close, headlines continue to trumpet almost daily layoffs, with much of the coverage focused on large corporations. But what is the upshot for small businesses, long considered one of the driving forces of job generation in this country, and its own hiring and retention practices?
Hiring Is Stalled According to economists and industry observers, small businesses, which tend not to directly follow the slash-and-burn layoff pattern of larger firms, are hardly insulated from the ongoing economic squeeze. The most recent ADP National Employment report, which tracks about 500,000 of its client companies, shows that small businesses dropped 79,000 jobs in November. It was the second consecutive month of job losses for small businesses in six years.
Looking ahead, the National Federation of Independent Businesses (NFIB), a Washington trade group, reported a similarly bleak economic outlook. In its most recent quarterly trends survey of 1,992 members, released in November, the percentage of small business owners who expected to hire within the next three months reached an abysmal zero. William Dunkelberg, NFIB's chief economist and co-author of the survey, says it was the first time since the organization began conducting the survey 35 years ago that hiring numbers had such a negative reading.
(Excerpt) Read more at businessweek.com ...
I think what most folks don’t realize is that when 1000 small employers with say five employees each lays just one employee off that represents a 20% layoff of employees. Yes, 20,000 jobs. If GM or Ford did the same 20% layoff, it would be all over the TV.
Last month we had 530,000 layoffs.
ping
If politicians knew what they were doing, small business is where the stimulus would be.
You mean:
If politicians had actual economic growth and prosperity in mind, instead of having the goal of the most control over the most people...
Biggest word in the dictionary
Preparing for long recession.
I’d like to point out that while 530,000 jobs is bad, this “Worst since 1974” garbage is getting annoying. The labor force is significantly larger than in 1974, therefore there is a bit of inflation to consider. In 1974 terms, the job loss may be around 330,000. Still not good, but sometimes you have to cut through the MSM doom and gloom to get at reality.
If Politicans knew what they were doing, there wouldn't be a stimulus package.
But I do agree with you that if there needs to be money spent, we're far better served by NOT shovelling it at the same corporations and people that screwed things up to begin with.
As a small business when you cut a job it really makes a difference on the operations of the firm. There is a point where cutting a few positions means you are really having to realign the business.
We've got more than that invested on the floor!
They could drop some regulations, and give tax breaks. Some people don’t consider that spending, others do. Regardless, it would be a lot cheaper, and a lot more effective than what’s being done now.
What industry & type of business are you in?
Pool tables and game room supplies and service.
Depends on disposable income from middle class and above, huh? It might be a rough couple of years.
“I think what most folks don’t realize is that when 1000 small employers with say five employees each lays just one employee off that represents a 20% layoff of employees. Yes, 20,000 jobs. “
Um, 1000 employers * 1 employee/each = 1,000 employees, not 20,000. Or, am I missing something?
Sad to say, part of the problem is that the kids today are more interested in electronic gaming then they are physical sports.
The Internet hurts us also, people can sell them less because they have no overhead. What they don't realize is that our prices included all accessories, delivery and set up. When they buy from the Internet it's dropped at their door.
We're doomed......by our poor math skills. LOL!
Apparently! LoL!
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