Businesses with fewer than 50 employees continue to outpace all larger businesses combined in creating new private-sector jobs, a new report shows.
Small businesses added 58,000 new jobs in May, with gains in service-sector jobs offset by slight losses in goods-producing sector, according to Automatic Data Processing reported, a Roseland, N.J.-based employment services firm. Overall, the increases are consistent with a three-month average of 56,000 jobs, the report said.
By contrast, larger businesses in May accounted for just 39,000 new jobs.
The results mark the sixth straight month that small businesses have accounted for the vast majority of private-sector job growth, the report said.