Posted on : Thursday 2nd July 2020 03:12 PM
Small business hiring gained in April, extending a run of erratic job creation.
Payroll provider ADP's monthly tally of small business employs released Wednesday showed companies created 77,000 jobs last month, a jump from an upwardly revised 20,000 in March and 30,000 in February. ADP's numbers, which reflect hiring at its customers who employ approximately 49 workers, have fluctuated since last summer.
Small business owners have been tentative in their employment ever since the recession, choosing to wait until they have the revenue to justify the risk and expense of new employees. They've also struggled in the past few years to look for talented 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 sometimes subject to 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 manufacturing.net