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Small Firms Driving Payroll Growth

 

Led by small and midsize businesses, non-farm private-sector payrolls grew by 58,000 new jobs last month, according to the ADP National Employment Report released Wednesday.

Businesses with fewer than 50 employees accounted for 53,000 of all new jobs in September, while midsize business added 31,000 and larger businesses lost 26,000.

Gains in service-sector employment, which grew by 97,000, were offset by continued declines in the manufacturing sector, which shed 39,000 jobs.

Jobs losses were particularly heavy at construction and financial firms, which were rocked by problems in the mortgage and housing markets, the report said.

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