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Report: Small Business Leads Job Creation Charge In January
Written by Jenna Weiner
Small businesses bringing more jobs than their larger cousins
What was good news for small businesses in January was good news for the job market in general, according to the results of a study performed by Macroeconomic Advisers and based on data from payroll outsourcing firm Automatic Data Processing.
While medium-sized and large businesses combined to contribute 90,000 jobs to the U.S. economy in January 2011, firms with fewer than 50 employees accounted for 97,000, the report found.
Joel Prakken, Macroeconomic Advisers chairman and principal, said in a statement that the signs were pointing to a significant economic recovery.
"The recent pattern of rising employment gains since the middle of last year appears to be intact, as the average gain over December and January (217,000) is well above the average gain over the prior six months (52,000). Strength was evident within all major industries and across all size business tracked in the ADP Report," he said.
Positive job growth trends could fuel increased consumer spending, which could in turn cause further job growth, experts say.
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