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Small Businesses See Modest Job Growth, Midsize Businesses Down: Report
Wednesday, July 2, 2008
By bMighty.com Staff
Midsize businesses shed 35,000 jobs, while small businesses gained 7,000, according to the ADP National Employment Report for June.
All told, the overall drop for private jobs hit 79,000, said payroll processor Automatic Data Processing (ADP), whose monthly report is based on 392,000 businesses with about 24 million workers on payrolls. Businesses related to the housing market were hit especially hard, and even the services sector, which hasn't seen a decline since November 2002, slashed 3,000 jobs from May to June.
Despite small businesses' gain, the increase is the weakest since November 2002.
Source(s): The Street, CNN Money
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