Small businesses created 44,000 U.S. jobs in August
Small businesses in the United States added 44,000 employees during August, based primarily on the strength of the service-providing sector.
Figures released by the ADP Small Business Report show that small businesses -- defined as having fewer than 50 employees -- in the goods-producing sector lost 8,000 jobs during August. At the same time, jobs in the service sector increased by 52,000.
Job growth for August was flat compared to July, which also saw 44,000 new small business jobs added. In June, 91,000 new small business jobs were created, while May saw the addition of 58,000 jobs.
"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," says Joel Prakken, chairman of Macroeconomic Advisers LLC, which partners with ADP Small Business Services to produce the report.
In contrast to small businesses, employment at companies with 50 or more employees decreased by 6,000.
The ADP Small Business Report is a monthly estimate of private nonfarm employment among companies in the United States with one to 49 employees. The information included in the ADP Small Business Report is based on data from the ADP National Employment Report, a measure of employment derived from 500,000 U.S. business clients of the firm. During the first six months of 2007, this group represented approximately 383,000 U.S. business clients and nearly 23 million U.S. employees working in all private industrial sectors.
Automatic Data Processing,Inc. (NYSE: ADP), generated nearly $8 billion in revenues and provides human resources, payroll, tax and benefits administration solutions to approximately 585,000 clients.
Figures released by the ADP Small Business Report show that small businesses -- defined as having fewer than 50 employees -- in the goods-producing sector lost 8,000 jobs during August. At the same time, jobs in the service sector increased by 52,000.
Job growth for August was flat compared to July, which also saw 44,000 new small business jobs added. In June, 91,000 new small business jobs were created, while May saw the addition of 58,000 jobs.
"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," says Joel Prakken, chairman of Macroeconomic Advisers LLC, which partners with ADP Small Business Services to produce the report.
In contrast to small businesses, employment at companies with 50 or more employees decreased by 6,000.
The ADP Small Business Report is a monthly estimate of private nonfarm employment among companies in the United States with one to 49 employees. The information included in the ADP Small Business Report is based on data from the ADP National Employment Report, a measure of employment derived from 500,000 U.S. business clients of the firm. During the first six months of 2007, this group represented approximately 383,000 U.S. business clients and nearly 23 million U.S. employees working in all private industrial sectors.
Automatic Data Processing,Inc. (NYSE: ADP), generated nearly $8 billion in revenues and provides human resources, payroll, tax and benefits administration solutions to approximately 585,000 clients.
Labels: employment, small business
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