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Small Businesses Extend Streak of Erratic Job Creation

03 May 2019
Small Businesses Extend Streak of Erratic Job Creation
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Small business employing gained in April, extending a run of erratic job creation.
 
Payroll provider ADP's monthly tally of small business employs released Wednesday revealed companies created 77,000 jobs last month, a jump from an upwardly revised 20,000 in March and 30,000 in February. ADP's statistics, which show hiring at its customers who employ as high as 49 workers, have fluctuated since last summer.
 
Small business owners have been tentative in their recruiting ever since the recession, choosing to hold back until they have the revenue to justify the risk and expense of new employees. They've also dealt with in the past few years to look for qualified workers.
 
Mark Zandi, chief economist at Moody's Analytics, said he does not see a change in small business hiring, which he has described as slow. The April gain 'was likely overstated due to several technical measurement issues,' he said.
 
Monthly economic statistics including the ADP report are often times dependent on revisions, so economists look at hiring over a period of months to discern a trend. Small businesses created on average 52,000 new jobs a month last year, down from 56,000 in 2017.
 
This article is originally posted on TRONSERVE.COM

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