According to the National Federation of Independent Business report, the “percentage of U.S. small business owners saying they planned to add to payrolls in July exceeded those with plans to cut jobs by 19 percentage points on a seasonally adjusted basis” In addition, 60% of small business owners said they were looking to hire in the month of July, which is a 6% increase from June.
The positive small business news could be the result of a few things. With regulation decreases on the rise, and economic growth over the past few years, American small businesses are benefiting. In addition, as the conservative Ben Shapiro points out, Americans expect little from the Trump administration bringing a sense of stability for future hiring. Tax code, Healthcare, and the National Budget are still issues that need to be solved, but with little expectation, businesses are planning accordingly.
The report comes a day ahead of the closely watched monthly payrolls survey from the U.S. Department of Labor. That benchmark reading of the job market is expected to show U.S. employers added 183,000 jobs in July, according to a Reuters poll, down from 222,000 reported in June. The unemployment rate is seen dropping to 4.3 percent from 4.4 percent.