The ADP employment report for October shows an interesting look at the direction of small business growth. It is still growing, adding 37,000 jobs, but as this infographic shows, the growth is slower than the average over the past three months and six months. In fact, growth has been cut almost in half.
Obviously there have been huge mitigating factors. First, Obamacare is here, and there is no question that it is not the catalyst for small job creation that anyone would have hoped. Secondly, the government shutdown unquestionably made small businesses less confident. That said, it’s interesting to note, as this infographic illustrates so well, that 95% of small-business job growth occurred with companies employing fewer than 20 people. Only 2000 jobs were created by businesses of the next largest size bracket.
The infographic gives an outstanding look at the current state of small business job growth, so it is definitely worth a quick scan to bring you up to speed. Hopefully subsequent reports, now that the government is actually up and running again, will be more encouraging. But for now, the government, small-business owners, and the public at large all have their work cut out for them.
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