SmallBizResource Blog -- Research
Small Business Rules Job Growth
Small business continues to be the engine powering US job growth. In August, small business employment grew by 44,000, while medium and large businesses shed 6,000 jobs.
Of course, according to the ADP Small Business Report, the situation is a litte more complicated than that. In fact, the non-farm small-biz "goods-producing sector" dumped 8,000 jobs, which was more than offset by 52,000 small biz service-sector jobs.
The repot quotes Joel Prakken, Chairman of Macroeconomic Advisers, LLC, as saying:
“The moderate growth of employment among small businesses reported in this month’s ADP Small Business Report suggests a continued deceleration of employment, though not to the extent observed among medium- and large-size businesses.”
ADP gets its figures from its payroll service, and defines small business as companies with fewer than 50 employees.
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