» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 128 | NO. 110 | Thursday, June 06, 2013

Small Businesses Gradually Pick Up Hiring Pace

By The Associated Press

Print | Front Page | Email this story | Comments ()

NEW YORK (AP) – Small businesses are gradually picking up the pace of their hiring, according to reports this week.

The payroll company ADP said Wednesday that its small-business customers added 58,000 jobs last month, up from 50,000 in April. The company also revised its March number to 74,000 from 60,000.

Nearly two-thirds of the jobs, 37,000, were at companies with fewer than 20 workers. The rest were at companies with 20 to 49 workers.

And on Tuesday, software maker Intuit said its small-business customers added 35,000 jobs last month. It revised its April reading up to 35,000 from 20,000.

Both reports indicate that although small companies continue to hire cautiously, their job growth is gaining momentum. Surveys this year have found that many owners plan to hire modestly or keep their employment levels unchanged because they’re not sure about the outlook for their revenue and the economy.

Small businesses account for 99.9 percent of U.S. companies and about half the nation’s employment. Many economists say the economic recovery can’t gain strength unless small businesses increase their pace of hiring.

Economists predict that the economy will grow by a 2 percent annual rate from April through June, down from 2.4 percent in the first three months of the year.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 32 344 10,222
MORTGAGES 52 452 13,327
FORECLOSURE NOTICES 0 76 2,614
BUILDING PERMITS 0 783 24,307
BANKRUPTCIES 56 355 9,888
BUSINESS LICENSES 23 133 3,736
UTILITY CONNECTIONS 76 595 14,558
MARRIAGE LICENSES 0 81 3,144

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.