According to the U.S. Bureau of Labor Statistics, businesses and public sector employers added 169,000 jobs in August, falling below the 177,000 jobs that were expected to be added by economists. Despite the positive signs of growth and the decline in unemployment around the country, the slow growth has many small business owners worried about the state of the economy.
The added jobs brought down the unemployment rate from 7.4 percent in July to 7.3 percent in August, the lowest rate since 2008. However, the lowered unemployment rate may be due to the increasing number of Americans who are giving up on trying to find work and are instead withdrawing from the job market altogether.
Slow job growth can have wide ranging impacts on the economy, from retail sales to small business performance, as the unemployed are less likely to spend any extra money they may have on anything besides the essentials.
If a small business owner is having trouble during tough economic times, they can come to National Funding for assistance. National Funding can help with getting a small business loan so an entrepreneur can shore up operations.