Hiring by U.S. small businesses stalled in May, according to survey results from the National Federation of Business.
The NFIB said its survey of 733 small businesses found that the average number of net new jobs per company slipped to 0.01 in May from 0.04 in April.
Low housing activity and lagging expenditures on services were to blame for the recent slide in growth rates, the group said. Consumer spending is also seeing continuing weakness, the survey found.
Reports showed non-professional services, manufacturing and construction were the industries that produced the greatest non-seasonally adjusted job creation plans.
Surveyed businesses in the south central states and New England reported an overall decrease in job growth.