Small Businesses Driving Job Growth
May 2, 2007 -- Private-sector payrolls rose by 64,000 jobs in April, including 45,000 new jobs at small businesses, according to the ADP National Employment Report.
By contrast, jobs at larger firms dropped by 10,000, the fourth straight month of declines, the report said.
While employment grew by 106,000 jobs in the service sector, it declined by 42,000 in the goods-producing sector, including 20,000 fewer jobs in the manufacturing sector alone, the report said.
Despite the overall gains, private-sector job growth has averaged just 76,000 over the past three months, about half the average of the three months leading to January.
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