The NY Times has an article called "What Economic Slowdown? Small Businesses Grow Stronger" that focuses on the growth of small business jobs. The article discusses the ADP employment survey, which covers job growth by size of firm. Key quote:
"Last week, for example, a monthly report released jointly by Automatic Data Processing Inc., the nation’s largest provider of payroll services, and Macroeconomic Advisers, a St. Louis consulting firm, showed an increase in private sector employment in October of 106,000. That included a surge of 63,000 at businesses with fewer than 50 employees, a gain of 50,000 at businesses with 50 to 499 employees — and a loss of 7,000 at companies with more than 500 employees."
Small business continues to be the key driver of US job growth. Small business also continues to add jobs to the US economy in the face of multiple economic shocks. Hopefully this will continue.
The growth of SMBs is here to stay. I'm excited about the future of entrepreneurs (in my mind, almost the same thing as owners of SMBs).
I appreciate you passing along great info.
Thanks, Jason
Posted by: Thriveal | November 10, 2007 at 03:45 PM