NEW YORK (AP) — The pace of small business hiring slowed in July, a sign that company owners are being conservative as the economy appears more uncertain.
Payroll service provider ADP says small businesses added 73,000 jobs last month, down from the 93,000 they added in June. Small businesses added 67,000 jobs in May and 57,000 in April.
Other reports have shown continuing caution. Wednesday, research firm PayNet said that small businesses borrowed less money in June. Surveys by groups including the National Federation of Independent Business have shown a drop in confidence among small company owners.
ADP's small business report is part of its broader look at employment at companies. It said businesses of all sizes added 163,000 jobs in July, down from a revised 172,000 in June.
Another look at employment comes on Friday, when the Labor Department releases its report on employment during July on Friday. More than 99 percent of U.S. companies are considered small businesses.
