Small Business Employment Still Volatile, Report Finds
Former small business employment powerhouses California, Nevada and Florida have shed nearly 1.7 million jobs since 2005, just one of the disturbing trends uncovered by a review of the nation's small business employment market.A five-year review of small business employment trends across the U.S. found the recent-half decade took a toll on most parts of the country. Conducted by the small business news website Portfolio.com, the review analyzed private-sector short- and long-term employment patterns across the country, using U.S. Bureau of Labor Statistics data from the past five years with the objective to determine the relative economic strength of the nation's 50 states and the District of Columbia. The report found forty states had fewer jobs in May 2010 than five years earlier and the nation lost a total of 4.51 million private-sector positions between mid-2005 and mid-2010. North Dakota topped the list with the nation's strongest economy at the moment, followed by Alaska in second place, due to an expansion in their employment bases, adding 21,3000 jobs and 10,100 jobs from 2005 to 2010, respectively.
On the other end of the ranking, Nevada, California and Florida have the nation's weakest economies in what the review termed a "stunning reversal" from half a decade ago when Nevada and Florida finished first and second, respectively, and California in 11th place in 2005's mid year review. Collectively, Nevada, California and Florida have lost 1.69 million jobs since 2005 and have double-digit unemployment rates.