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It’s good to be the king (of a small business)

As if you needed even MORE pride and joy as a small business owner, I’d point you to the latest job stats in the US.

According to today’s ADP National Employment Report SM, private sector employment declined by 23,000 in February.  BUT, nonfarm employment by small businesses (as a sub-sector of private sector businesses) actually grew.

 Nonfarm Private Employment Highlights – February Report:

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Total employment:                                -23,000
Small businesses*                                 +15,000
Medium businesses**                           -4,000
Large businesses***                             -34,000
Goods-producing sector:                      -70,000
Service-providing sector:                      +47,000

* Small businesses represent payrolls with 1-49 employees
** Medium businesses represent payrolls with 50-499 employees
*** Large businesses represent payrolls with more than 499 employees

Most of the decline in employment was accounted at large companies.""

Two sectors of the economy hardest hit? Residential construction and financial activities related to home sales and mortgage lending.  In February, construction employment fell 30,000. This is the fifteenth consecutive monthly decline.

It’s good to be doing good by creating jobs you small business kings and queens – you should be proud.

Rich

About the Author: Rich Sloan

Rich Sloan is chief startupologist and co-founder of StartupNation and host of StartupNation podcasts. He is also co-author of the acclaimed how-to book, StartupNation: America's Leading Entrepreneurial Experts Reveal the Secrets to Building a Blockbuster Business. Rich encourages you to [...]

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