Small Businesses Add 20,000 Jobs in August

Sept. 4, 2008
The growth in small business jobs was from the service sector.

While private employment in the private sector decreased by 33,000 in August, small businesses employement increased by 20,000, according to the ADP National Employment Report. Small businesses represent payrolls with 1-49 employees.

"Though this growth declined from last month's revised increase of 46,000, these figures continue to offer evidence of the resiliency small-size businesses have demonstrated over the past several years when compared to the job losses experienced at larger firms," said Joel Prakken, Chairman of Macroeconomic Advisers, LLC.

Medium businesses, (payrolls of 5-499) lost 25,000 jobs and large businesses (more than 500) lost 28,000 jobs. The manufacturing sector lost 56,000 jobs.

Looking at the breakdown in the small business figures, the goods-producing sector decreased employment by 16,000 while the service-producing sector increased by 36,000.

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