Small businesses face job cuts due to economic pressures

Small businesses are facing significant job cuts, with firms employing fewer than 10 people reducing staff for 13 consecutive months. This trend is attributed to a combination of factors including tariffs, high interest rates, expensive health insurance, and surging energy costs, leading to widespread financial strain. The decline in employment at these small businesses is the most significant since tracking began a decade ago, impacting various sectors like retail and manufacturing.