Tuesday, September 09, 2014
Mom and Pop no longer own the Shop
by Larry Geller
It’s hard to snip even a small part of this article posted this morning:Small Business Ownership In America Is At An All-Time Low (Activist Post, 9/9/2014)
But having accurate data is important, even if it’s very depressing. So ok, a couple of snips, but nothing too deep. For the whole story, please click the link and check out the report it refers to.
On the other hand, I’ll bet that you already know much of this.
According to the Federal Reserve, the percentage of American families that own a small business is at the lowest level that has ever been recorded….
If the economy truly was healthy, this would not be happening. And it isn't as if Americans are flooding the labor market either. As I detailed yesterday, the labor force participation rate in this country is at a 36 year low.
As David Stockman recently so aptly put it, outside of health and education the U.S. economy has not produced a single job since mid-2000 even though our population has grown greatly since that time... that outside of health and education there has not been one net new job created in the American economy since July 2000! Yes, not a single new job—as in none, nein, nichts, nada, zip!
Hmmm… if you want to be depressed by some statistics and charts, do click over to David Stockman’s article as well.
Links to this post: