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Small firms kept jobless rate from falling in November
The November unemployment drop surprised many as big layoffs were reported while small firms likely boosted employment. Purdue economist William Dunkelberg notes that in the July September quarter small-business hiring rose even as larger firms cut jobs, a pattern that may have supported the overall jobless figures. The White House hint that the Small Business Administration could be affected adds urgency to small-business advocacy. About 15 million firms, or 99 percent of all businesses, have 500 or fewer workers according to the prevailing definition from a 1980 White House conference.
MENTIONED IN THIS ARTICLE
New York
William Dunkelberg
Purdue ‘University
National Federation of Independent Business
White House
Small Business Administration