In the last year, more U.S. small businesses were giving employees the boot rather than hiring, a recent survey found.
The Wells Fargo/Gallup Small Business Index survey reported a net hiring index of -12 in April, down from -9 for the same period the previous year and down from -10 in January. The quarterly analysis surveyed 603 small business owners.
Net hiring has remained at similar levels since January 2011, but is up from the low of -27 reported in January 2010, Dennis Jacobe, Gallup chief economist, said in a statement. The figure is calculated by subtracting the percentage of owners expecting a decrease in jobs from those expecting an increase.
Hiring intentions were at +6 in April, and the percentage of owners who expect to add new jobs is slightly higher than those who plan to eliminate them in the next year. The figure is a little higher than January’s +5, but slightly below the +10 of April 2012.