Even more examples of a turn around in the economy. This is great news and a great motivator for small business owners to keep on chugging along. There is a light at the end of the tunnel.
Good article by CNNMoney.
By Catherine Clifford, staff reporter
NEW YORK (CNNMoney.com) — Main Street’s job hemorrhaging has slowed.
Companies with fewer than 50 workers added a net 1,000 jobs in April, according to a report released Wednesday from payroll processor ADP. But the upswing actually began last month: ADP (ADP, Fortune 500) revised its March data to reflect a gain of 4,000 positions, marking the first month in nearly two years that small companies expanded their payrolls.
But even as the pink slips have slowed, they’ve left behind a massive jobs shortfall. Small companies have shed 3 million workers since the recession began, by ADP’s count.
In a speech Tuesday before the Business Council, a group of CEOs from major companies, President Obama emphasized the need to rebuild the country’s decimated employee rolls.
“Last year, the economy was in freefall. Today, the economy is growing again,” Obama said. “Now, by no stretch of the imagination can we declare victory. Not until the millions of our neighbors who are looking for work can find work. … Spurring job creation and economic expansion continues to be our number-one domestic priority.”
But many small business owners say they’re still sitting tight and holding off on new hires. The economy’s still-tentative recovery — witness Thursday’s sharp stock-market selloff — has companies treading cautiously.
Read more at CNNMoney.com