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Silver Lining for the Job Market?

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  • Description

    FBN’s Gerri Willis breaks down the growth in jobs and why small business is driving job growth.

  • Duration 2:35
  • Date

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Well finally were actually getting good news on the jobs front but before you start popping the champagne let's break it down.

The private sector served -- based -- hiring in June but yes there's -- but new claims for unemployment insurance remain high.

Businesses added a 157000.

Jobs that's a solid jump after the week 36000 increase in -- Now this was better than economists had expected but were still off of the 200000 monthly job creation pace of the first quarter.

Guess what though it's not big business that we have to -- for the burst of hiring.

Those with 500 employees or more added only 101000 new employees.

Compare that to businesses with under fifty workers -- hired 88000.

New people.

As -- we need more -- small businesses are the cornerstone of this economy.

They are on the front line of the American dream growing and prospering despite all the hurdles this government continues to throw at them.

Meanwhile the Labor Department said unemployment claims fell for the first time in three weeks to 4181000.

Way better than forecasts.

And as the Wall Street Journal points out the decline would have been even greater if it wasn't for the government shut down in Minnesota.

Sending 2500 state employees to the unemployment lines.

However the jobless claims were still well above the 400000 mark.

Economists agree that we need to see claims drop below that level on a sustained basis just that signal strong stronger job creation.

Now the figures gave a mixed picture ahead of the release of the government's official job figures for June tomorrow that's a big report.

And experts are forecasting an addition of about 90000.

Jobs with the unemployment rate holding steady at nine point 1%.

Not too impressive.

Just to clarify today's hiring numbers are just reflective of the private sector.

Tomorrow's report will include government jobs which have been seeing major declines in the last few months.

Another disturbing trend of -- the jobs crisis is not treating men and women equally.

Now since -- into recession men have gained 768000.

Jobs while women have lots 2181000.

Many experts blame this on the resurgence of male dominated industries like manufacturing.

And more women work in the public sector which as I -- has been -- increasing layoffs as government tries to save money.

Bottom line if we -- recovery that includes the creation of jobs in this country -- the focus should be on creating the most nurturing environment for small business owners.

Hello DC are you listening.

As you debate the pros and cons of tax hikes or spending cuts remember the impact -- -- decisions have on business owners.

Not only do they need opportunities to grow more they are ER.

They also vote -- come.

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