PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Small Business Advocate on July’s Job Data: Positive policy changes are paying significant dividends for entrepreneurs and the economy

By at 4 August, 2017, 10:45 am

NEWS

FOR IMMEDIATE RELEASE

Washington, D.C. –  The following statement on July’s job numbers can be attributed to Karen Kerrigan, president & CEO, Small Business & Entrepreneurship Council (SBE Council):

“It’s very positive to see strong momentum on job growth followed by improved GDP growth in the second quarter.  Optimism across the board among entrepreneurs and small business owners has translated into hiring, which signals an encouraging track for the economy overall.  In particular, there was significant movement in the employment-to-population ratio, marked at 60.2 percent, its highest level since February 2009.  More Americans are working, which will bolster confidence and lead to greater investment and sustained growth for the economy.

“Our small business members attribute this positive momentum in the economy to a dramatic shift in policies under President Trump. The shift in policy has been significant and beneficial to small businesses and their workforce.

“Policy changes are still needed in two key areas to build on these jobs numbers – tax reform and relief, as well as relief from crushing health insurance costs.  We are pleased to see President Trump still focused on fixing Obamacare, along with key members of his team directly engaged on tax reform discussions.  The Administration and Congress also need to continue pushing on the regulatory reform and relief front.  Easing intrusive red tape and regulation is paying significant dividends in terms of confidence and business investment, and will continue to do so with the actions that are being pursued.

“Positive policy changes that are happening in these three key areas will provide entrepreneurs and small business owners with the cost relief, capital, and confidence they need to expand and take additional risks.  In addition, an enabling policy environment matched with a positive economic climate will encourage more people to start businesses.  Greater levels of entrepreneurship is desperately needed to bolster quality job creation, innovation, and opportunity for all Americans.”

Read SBE Council chief economist Ray Keating’s analysis of the July jobs data here, along with a look at the data on self-employment and entrepreneurship, which still needs a big boost.

According to the Bureau of Labor Statistics, there were 209,000 jobs added in July and June’s data was revised upward to 231,000 (from 222,000).  The unemployment rate dipped to 4.3 percent.

CONTACT: Karen Kerrigan, Raymond Keating

kkerrigan@sbecouncil.orgrkeating@sbecouncil.org

(703)-242-5840 

SBE Council is a nonpartisan, nonprofit advocacy, research and education organization that works to protect small business and promote entrepreneurship. For nearly 25 years SBE Council has worked to successfully implement a range of policy and private sector initiatives to strengthen the ecosystem for startups and small business growth. To learn more, visit SBE Council’s website: www.sbecouncil.org.  Follow on Twitter: @SBECouncil

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