Small businesses accounted for the bulk of new jobs in September, adding 53,000 of the 58,000 new jobs in non-farm private employment, according to a report by payroll-processing giant ADP.
The company found an increase of 56,000 jobs in the services sector for small businesses of less than 50 employees, but a decline in the goods-producing sector of 3,000 jobs. However, there was a sharp drop among large businesses, with a decline of 26,000 jobs.
"So far over the last several months, small businesses continued to create jobs, while the large businesses lost," said Don Larson, vice president of corporate marketing at ADP.
Offsetting the losses among large companies was a gain of 31,000 jobs at midsized companies. Unlike the U.S. Bureau of Labor Statistics, ADP does not count public sector employment.
