Small-firm layoffs increased in December

01/8/2009 | Reuters

A report from ADP Employer Services and Macroeconomic Advisers released Wednesday indicated that small businesses made up 40% of job cuts in December, more than previously thought. Small-business owners are trying to "hang on," says NFIB chief economist William Dunkelberg, but more of them are now in survival mode. "They kept thinking consumers will make it, but then December rolls around, and sales are still not going anywhere -- in fact they're going down -- and [small-business owners] finally run out of money."

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