Small Business Job Creation On a Roll: ADP
The monthly employment report released today from ADP shows that employment on small payrolls — those private-sector businesses with less than 50 employees — increased by 100,000 in March.
It was the fourth time in the past five months where payrolls of the smallest businesses increased by at least 100,000 employees, according to ADP data. Since October 2011, a total of 548,000 employees were added to small-business payrolls.
Medium-sized businesses, defined by ADP as those having 50 to 499 employees, have also seen a boost in employment numbers, although not as dramatic. From February to March, 87,000 new jobs were added to midsized company payrolls. Since October 2011, a total of 472,000 jobs were added.
Large-company payrolls — those with 500 or more workers, rose 22,000 in March.
Among all companies, the construction and financial service sectors were especially active in hiring. The construction industry added 13,000 jobs in March, for its sixth consecutive monthly gain. Financial services added 8,000 employees; it was the eighth consecutive gain for that sector.