Small Businesses Drive Job Growth
Small businesses continued to drive U.S. employment growth last month, accounting for 44,000 of a total 48,000 net new jobs, according to Roseland, N.J.-based employment services firm Automatic Data Processing.
By contrast, midsized businesses added just 17,000 new jobs in July, while larger businesses shed 13,000, ADP reported. All the jobs were created in the service sector. Businesses of every size in the goods-producing sector cut jobs.
ADP defines a small business as having fewer than 50 employees.-next-