Small Businesses Dropped Most Jobs In Q4 2009
Written by Jenna Weiner
Businesses with 50 employees or fewer accounted for 61.8 percent of jobs lost.
In the latest Business Employment Dynamics Summary from the Bureau of Labor Statistics, the numbers reveal that when it comes to feeling the effects of the recession, small business employment was hit hardest.
Companies with 50 employees or fewer represented 61.8 percent of all jobs lost from September to December of 2009. This comes as many economists had predicted an end to the ongoing struggles that many have been facing.
While many states shed jobs, there were gains made in at least a handful.
"In the fourth quarter of 2009, eight states, the District of Columbia, Puerto Rico, and the Virgin Islands experienced changes from negative to positive net employment as compared to the prior quarter," the Bureau stated in the latest news for small business. "The net employment change turned negative from positive in Indiana and Idaho and remained negative in the rest of states."
In an effort to help states cope with the economic hardships, the Senate recently passed a $26-billion aid package. The federal government's funds will go to help with Medicare expenses and education.
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