Majority Added By Businesses With Fewer Than 20 Employees
The NFIB Research Foundation has collected Small Business Economic Trends data with quarterly surveys since 1974 and monthly surveys since 1986. Survey respondents are drawn from NFIB’s membership.
The latest survey is based on 678 respondents to the May 2014 survey of a random sample of NFIB’s member firms.
On Wednesday, ADP released the May edition of its National Employment Trends report, showing that private sector employers added a net 179,000 jobs during the month. Of these, 82,000 were added by small businesses, which ADP defines as those with fewer than 50 employees. Breaking that data down further, 48,000 positions were added by businesses with fewer than 20 employees, while 34,000 were added by those with between 20 and 49 employees. Overall, that’s the largest monthly increase in jobs added by small businesses this year.
The numbers show that small businesses outperformed the other two categories measured by ADP. Medium businesses, those with between 50 and 499 employees, added 61,000, while larger businesses added 37,000 positions. Looking at the small business job gains, 73,000 positions were added in the service sector, while 9,000 were added by goods-producing industries.
The Department of Labor will release the results for the full economy on Friday morning.
Further Reading:The ADP Small Business Report and the ADP National Employment Trends are both posted on the web.
This news article is intended to keep small business owners apprised of current events that may affect them. It does not necessarily reflect NFIB’s policy position on such issues.