The Engine Of Growth Is Out Of Gas

Ryan Avent reads a report (pdf) on small businesses, which are a major driver of new jobs:

[Small business] owners continued to report that their single-most important problem, by far, is low sales levels (rather than taxes, interest rates, or labour quality). That's worth keeping in mind as conservatives increase the volume at which they argue that high unemployment is due to extensions of government unemployment benefits. The problem is clearly not labour supply. Rather, the economy's principal job creators are seeing too little demand to justify increases in hiring.