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Yeah back in live and Jo -- -- in for -- Cincinnati welcome to the small business senate when I talk about.
Small businesses throughout this show but first.
Breaking news from earlier this morning -- private sector job numbers are in for the month.
Of October it looks like a 130000.
Jobs were added according few pair Carol -- AD he not missed expectations.
Of a 150000.
Jobs and we are expecting to break it down -- to look at the small business dangling here with foxnews.com.
Reporter got -- Carol -- joining us today and for having me still.
Smoking embers and -- Halloween really miss expectations.
Would this mean for small businesses what did you see in in that -- and all.
Business numbers were really soft this -- and there are a number of factors that may have contributed to the decrease that we've seen.
So there were only 37000.
Small business jobs added in the month of October down from 68000.
In the previous month.
And a number of factors are to play here we have via -- -- sequestration.
We have fiscal austerity increases in taxes.
Not to mention the partial government shutdown.
And obamacare obviously so lots of factors that may have scared off small businesses when it comes to adding staffers.
Now why do you think with the primary there's always different factors that you mentioned and they have.
Different sort of -- impacts.
What do you think was the number one factor in affecting the software the numbers Mark Zandi the chief economist for Moody's analytics that puts together the report which -- -- spoke this morning and he said it's hard to tell.
Which factors really contribute the most.
But definitely the partial government shut down with the furloughs of some private sector employees.
Tied -- in government jobs.
That can happen major fat and -- and that's mom players seemed that he got to wait and see approach we'll see how -- shutdown continues for.
Will see what happens with the government.
And then well -- employees as he said if you only have twenty employees.
Adding just one more staffer that -- huge increase and it's especially that.
You know it's illuminating to see that for businesses with a thousand plus employees and there was no slow down they added 81000 jobs this month.
So there are certain that distinction there really show is that small employers.
Probably a little bit scared off by what they saw going on Washington we'll certainly can affect your bottom line much more rapidly like he said with -- -- of geographical breakdown regions of the country they were hit harder.
I've not geographical what was really interesting pair weren't the company's between twenty and 49 employees.
Saw the hugest -- being.
In -- employees that they were adding only 2000 employees were added or businesses of this size.
Down from 23000.
Last month that's a huge drop there.
And what's interesting is that speaking in earlier months Mark Zandi was saying that he didn't really see the effect of obamacare.
On small employers then obviously.
That's what we've been expecting is that because of the employer mandate which is set to go into effect in twenty -- -- That we would see that sort of slow down in small jobs.
But we're starting to see this slowdown now -- he said finally that.
He might be because of the employer mandate and obamacare.
The for people who are looking to work in small business or perhaps to -- accompanied it isn't -- -- more than a thousand or 2000 people you know how these numbers affects.
How people participate in the labor force do you think especially the small business while I think for small business owners as I said before.
There's so much cautious sense -- so much wait and see.
And it but when it comes to hiring you really need to make sure watching the bottom line that.
Every single person you add -- your staff is going to make.
A huge impact for the company and that's went small business and players that I speak with are always talking that is it's looking for the perfect person to get a job.
Not just someone that can do it pretty well they're really holding out for someone that checks off all the boxes because you're making a -- We'll certainly is thinking so much you were out Carol for joining us today breaking down make the numbers -- more details we always like to -- here and a yellow light up.
Which I -- -- -- I had an art call -- foxbusiness.com -- -- that some players spooked about hiring knocked over definitely check it out where did he tell.
And we are going to move on right -- you.
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