The Growth of Small Business in 2013
Washington: US small businesses hired the most workers in nearly eight years in December, 2013.
Small business is more confident about the future, doing well financially, and growing.
Small business owners rebounded from a dismal showing in October to close out the year with their two highest hiring totals of 2013, according to the latest jobs report from payroll processing firm ADP.
“The job market has kicked into a higher gear,” said Mark Zandi, chief economist at Moody’s Analytics, which helps prepare the report. “We’re now 4 ½ years into this economic recovery and there have been a lot of false starts. ... But this time it does feel more fundamental, more real, more broad-based.”
The National Federation of Independent Business (NFIB) said on Wednesday small business owners added an average of 0.24 workers per firm last month, the largest since February 2006.
“Job creation is slowly moving in a positive direction,” the NFIB said in a statement.
The NFIB survey of 635 of small business owners throughout the country found that 14 per cent added an average of 3.4 workers per firm over the past few months.
It is interesting to note that small businesses are also increasingly reporting difficulties finding qualified people to fill open positions.
Source: Reuters, Washington Post and NFIB
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