Small Business Driving Job Growth
April 5, 2007 -- Private-sector employment increased by 106,000 in March, led by gains in the small-business sector, according to the ADP National Employment Report released this week.
As many as 81,000 jobs were created by small businesses nationwide, while medium-sized businesses created 43,000 and large businesses cut 18,000, the report said.
By industry, the service sector added 128,000 jobs, offsetting 22,000 jobs shed in the goods producing sector -- despite 6,000 jobs added by small businesses, the report said.
"Over the last six months, small and midsize businesses accounted for most of the growth in private non-farm employment." Joel Prakken, chairman of Macroeconomic Advisers LLC, which produces the report in partnership with ADP, said in a statement.
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