Small Businesses Losing Jobs Red Flag for Looming Recession

I issued the following statement after the release of the May Jobs Report from the Bureau of Labor Statistics:

In addition to a shrinking economy, slowing job growth and crushing inflation, America’s small businesses have lost jobs three out of the last four months. This is a big red flag that often signals a recession is around the corner.

Under President Biden these Main Street businesses are struggling with higher prices, a worker shortage and consumers whose paychecks are shrinking each month due to record-high inflation.