Small business is looking up in the U.S., but small business hiring took a hit in May.
Although small business optimism increased a bit in the U.S. in May, small business hiring plans took a dip compared to April, according to the National Federation of Independent Business’s Index of Small Business Optimism.
For the second month in a row, U.S. small business confidence edged slightly higher, increasing 2.3 points to reach 94.4 for May. Although this reading is the second highest since the beginning of the recession in December 2007, this doesn’t necessarily reflect strong economic growth.
Planned job creation fell a full point, which seems to be stalling after five consecutive months of gains.
An overall optimistic small-business economic sector is certainly a good thing, but when coupled with an unenthusiastic view of future small business hiring, the result brings the whole outlook down.