STOCK MARKET WATCH -- Monday, 6 August 2012

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10. Summer slump: Small businesses continued shedding workers in July

http://www.washingtonpost.com/business/on-small-business/summer-slump-small-businesses-continued-shedding-workers-in-july/2012/08/02/gJQAkDCiSX_story.html

On the heels of several discouraging economic reports, the latest small business employment figures further suggest the recovery is losing momentum.

The nation’s smallest firms trimmed their staffs ever so slightly over the past few months, losing an average of 0.04 workers per company, according to a report released Thursday by the National Federation of Independent Business. While that’s not quite as big of a hit as the 0.11 workers they reported losing in June, this marks the second consecutive month in the red after six straight of flat or increased employment.


Either way, small businesses are clearly struggling this summer to live up to their traditional billing as the country’s most powerful job engine.

“On balance, July looks like a repeat of June, few jobs and no change in the unemployment rate,” William C. Dunkelberg, NFIB chief economist, said in a statement. “So far, it has turned out to be a cruel summer of dashed hopes for meaningful job creation.”