Small businesses cut jobs in May: NFIB

WASHINGTON Wed Jun 5, 2013 10:15am EDT

Small-business owner Ralph Gorham checks the salinity of his holding tanks at his shop ''Redhook Lobster Pound'' in New York December 16, 2010. REUTERS/Lucas Jackson

Small-business owner Ralph Gorham checks the salinity of his holding tanks at his shop ''Redhook Lobster Pound'' in New York December 16, 2010.

Credit: Reuters/Lucas Jackson

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WASHINGTON (Reuters) - Small businesses cut back on staff slightly in May, the first decline in six months and a sign of weakness in the job market recovery.

The National Federation of Independent Business said on Wednesday employment shrank by 0.04 workers per firm last month.

It was the second report of the day to augur poorly for the government's national employment report due on Friday, which is expected to show a modest 170,000 jobs were created last month.

Earlier on Wednesday, payroll processing firm ADP said U.S. companies added 135,000 workers in May, well below the 165,000 forecast by analysts polled by Reuters.

(Reporting by Jason Lange; Editing by James Dalgleish)

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Comments (1)
Brett_Cairns wrote:
The economy is still quite fragile and there does not seem to be much good news of near term improvement

Jun 10, 2013 7:04pm EDT  --  Report as abuse
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