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Small Businesses Add 34,000 Jobs in September, ADP Says

October 5th, 2016 Comments off
ADP april 2016

Small businesses created 34,000 private sector jobs in September, according the ADP’s most recent Small Business Employment Report. The ADP reports job growth specific to businesses with 49 or fewer employees, due to the important contribution small businesses make to economic growth.

Looking at company size, both very small businesses (those with 1-19 employees) and other small businesses (those with 20-49 employees) added 17,000 jobs.

Looking at separate sectors, very small businesses in the goods-producing sector lost 2,000 jobs, while other small businesses held steady. In contrast, very small businesses in the service-providing sector added 19,000 jobs, other small businesses added 17,000 jobs.

Looking at overall national job growth, the ADP reports the U.S. added 154,000 private jobs in August. Medium-sized businesses added 56,000 jobs, and large businesses added 64,000.

While the U.S. added fewer than expected jobs – economists predicted an addition of 169,000 jobs – the slowed job growth may be related to the low unemployment number. Moody’s Analytics chief economist Mark Zandi says job growth “should be expected to slow as the U.S. nears full employment,” according to Marketwatch.

It will be interesting to see what the Labor Department’s release on Friday will show. In the meantime, remember that even if adding headcount is not on your mind right now, retaining high performers should always be. Make an effort to understand what compels employees to stay (or leave) and find new ways to ramp up employee engagement.

63,000 Small Business Jobs Added in August, ADP Report Says

August 31st, 2016 Comments off
ADP april 2016

Small businesses created 63,000 private sector jobs in August, according the ADP, which released its monthly Small Business Employment Report today. The number is up slightly from July, when small businesses added 61,000 jobs. As I mentioned last month, these are modest gains, but not uncommon for the summer months.

Looking at company size, very small businesses (those with 1-19 employees) added 24,000 jobs, and other small businesses (those with 20-49 employees) added 38,000 jobs.

Of course, overall numbers do not tell the whole story. Much last in July, small businesses in the service-producing sector had all the gains, while small businesses in the goods-producing sector lost jobs in the month of August. Very small businesses in the goods-producing sector lost 1,000 jobs and other small businesses lost 3,000 jobs. In contract, very small businesses in the service-providing sector added 25,000 jobs, other small businesses added 41,000 jobs.

Now let us compare this report to the report for overall job growth. According to the ADP’s National Employment Report, the U.S. added 177,000 jobs in August – down just slightly from 179,000 jobs added in June. Despite the slight dip, these numbers reflect continued, healthy growth.

These numbers also seem to indicate that that, while employers continue to add jobs, they are being cautious in their efforts – for good reason: It is far too easy to make a costly hiring mistake. Consider these tips for avoiding the most common hiring mistakes.

Small Businesses Added 61,000 Jobs in July, According to ADP

August 3rd, 2016 Comments off
Circling a career opportunity that wants motivated individuals. Shot with very narrow DOF.

The ADP released its July 2016 Small Business Employment Report today, which shows that small businesses added 61,000 jobs in the month of June. While these are modest gains, and significantly lower than the 95,000 jobs added in June and 76,000 jobs added in May, it is not unusual for businesses to go through a bit of a “summer slump” when it comes to hiring.

Looking at company size, very small businesses (those with 1-19 employees) added 22,000 jobs, and other small businesses (those with 20-49 employees) added 39,000 jobs.

Some sectors fared better than others last month. Small businesses in the goods-producing sector actually lost jobs – 3,000, to be exact (2,000 among very small businesses, and 1,000 a month other small businesses). Meanwhile, those in the service service-providing sector added 64,000 jobs (24,000 in very small businesses and 40,000 in other small businesses).

The report is brighter for overall job growth, however. While small businesses added fewer jobs, overall (nonfarm) job growth exceeded last month’s numbers. The U.S. added 179,000 jobs in July – 7,000 more jobs than in June. These numbers reflect continued, healthy growth.

And according to CareerBuilder’s Small Business Midyear forecast, employers will continue to fill jobs if at a more modest pace than last year. Whether you are actively hiring or maintaining staff size for the moment, it’s important to keep collecting resumes and keeping track of interested candidates. Why? Consider these four big benefits to building your talent pipeline.

ADP Employment Report: Small Businesses Added 76,000 Jobs in May

June 2nd, 2016 Comments off
Businessman standing and looking at the city

Small businesses continue to be a significant source of job growth in the U.S., the latestADP Small Business Report shows.

According to the report, released today, small businesses with 1-49 employees created 76,000 new jobs in May 2016, making up 43 percent of overall job growth. (According to the ADP’s National Employment Report, the U.S. added 173,000 jobs in the nonfarm private sector employment.) This underscores the important role small businesses play in job creation and the health of the economy.

Broken down by company size, businesses with 1-19 employees and businesses with 20-49 employees added 38,000 jobs each.

Looking at individual sectors, small businesses in the goods-producing sector produced 1,000 jobs, those in the service-providing sector added 75,000 jobs.

While these numbers are lower than in recent months, it is not uncommon to see job growth slower in the summer months. According to CareerBuilder’s small business hiring forecast, however, small business employers expect to add headcount throughout 2016. And looking even further ahead, newly released research from CareerBuildershows growth in a wide variety of industries over the next several years.


 

Want more advice and resources for building your small business? Learn about the essential elements of a standout recruitment strategy. You can also sign up to get the Small Business Recruitment-in-a-Box toolkit, compliments of CareerBuilder.