NFIB: July a Bad Month for Jobs
Small businesses added an average of negative 0.11 workers in July, the third negative month in row, according to data from the National Federation of Independent Business.
WASHINGTON, D.C. — July was a slow month for jobs, with the average increase in employment coming in at a negative 0.11 workers per firm — the third negative monthly reading in a row, according to the National Federation of Independent Business (NFIB)’s monthly economic survey.
In a statement, NFIB Chief Economist William C. Dunkelberg discussed the survey, which will be released August 13. He said 12 percent of the association’s 350,000 owners reduced employment to a seasonally adjusted average of 2.6 workers, producing the seasonally adjusted gain of negative 0.11 workers per firm overall.
The remaining 79 percent of owners made no net change in employment, and 50 percent hired or tried to hire in the last three months. Forty percent reported few or no qualified applicants for open positions.
Job creation rose 2 points, with a net 9 percent of owners planning to increase total employment — the best number since August of 2012. Not seasonally adjusted, 12 percent plan to increase employment at their firm (down 2 points), and 6 percent plan reductions (unchanged).
“Overall, there is not a lot of promise for new job growth,” Dunkelberg said.
In the first quarter 2013, gross domestic product (GDP) has been revised down to 1.1 percent following a reading of 0.1 percent at the end of 2012.
“The first estimate for the second quarter is 1.7 percent, better than expected, but revisions for the past two quarters have been negative and large so even that lousy reading may be revised downward,” he added.
“Even so, these GDP growth numbers do not square with the growth in employment averaging over 190,000 per month. What are these new employees making? The growth in part-time jobs may explain part of this ‘inconsistency.’ But overall, the job market isn’t looking any better.”
More F&I

Modern Technology Objection Handling
In this video, Trent White shares how to confidently handle technology-based objections by helping customers understand the value of protection, even with modern vehicle technology.
Read More →
Consistency at Scale: Driving F&I Performance
With 75 rooftops across the Sunshine State, Morgan Auto Group has proven to Floridians that it knows a thing or two about driving performance in a competitive market. But it didn’t start at the top.
Read More →
Gitty Up on GAP
The foundational finance-and-insurance product hasn’t kept up with the latest conditions for auto dealers. Is the time ripe?
Read More →
How AI-Powered Coaching Is Transforming F&I Performance
See how AI-powered coaching can turn F&I customer conversations into actionable insights that support compliance, performance and profitability
Read More →
Sell Value, Build Trust
In this video, Trent White explains why selling on value, not fear, builds lasting customer trust, reduces cancellations, and drives long-term success.
Read More →
F&I Sales Give Dealers First-Half Lift
Product business shored up total profits to avoid an overall revenue tanking as product penetrations held steady, StoneEagle reported.
Read More →
Targeted Training Drives Results
Today’s technology, instead of threatening F&I managers, can actually make them better, according to an industry veteran who’s watched market setbacks roil the unprepared.
Read More →
Double the Change, Double the Chance
When an F&I manager gets a customer refusal, it’s a wise move to tweak more than one thing in the product offering.
Read More →
Just Do It
F&I managers need training, but instead of resisting application or expecting perfection, they should improve by simply acting on what they learn.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →