March 19, 2018

By Bob Coleman
Editor, Main Street Monday

Main Street Monday — ADP Says Small Business Hiring is Rocking and Rolling

Private sector employment increased by 235,000 jobs from January to February according to the February ADP National Employment Report

“The labor market continues to experience uninterrupted growth,” says Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “We see persistent gains across most industries with leisure and hospitality and retail leading the way as consumer spending kicked up. At this pace of job growth employers will soon become hard-pressed to find qualified workers.”

Mark Zandi, chief economist of Moody’s Analytics, says, “The job market is red hot and threatens to overheat. With government spending increases and tax cuts, growth is set to accelerate.”

Small businesses: 68,000
1-19 employees 27,000
20-49 employees 41,000

Medium businesses: 97,000
50-499 employees 97,000

Large businesses: 70,000
500-999 employees 11,000
1,000+ employees 58,000