Job Loss Streak Snaps, But Small Business Hiring Still Weak

Small business hiring was virtually flat in November, both for Texas and for the country as a whole.

Intuit Payroll’s Small Business Indexes show that U.S. small businesses created 30,000 jobs in November, a gain of just over 0.1%. For Texas, small business hiring gained just under 0.1%. The November numbers follow nearly half a year of job cuts at companies with fewer than 20 employees.

Intuit economist Susan Woodward says the sector best poised for a recovery in the near term is construction.

“Construction is still really in the ditch. Single-family starts are still around 700,000-800,000 a year. A normal year would be 1.8 million, and we are 2-3 million units behind trend.  The real recovery of the economy will come when construction recovers, and it won’t just be a recovery, it will be a bit of a construction boom.”

Woodward estimates that construction accounts for one in every five small businesses.

Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...