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Small businesses are going on a hiring binge

from Bloomberg Business

Small business, responsible for most American job creation, is finally gaining momentum, giving an expansion approaching its sixth anniversary some legs and leading an acceleration in job creation. Confidence is near a post-2007 peak for small companies, construction is recovering and credit conditions are easing. Companies with 499 or fewer employees added 81 percent of the new private-sector jobs in January and averaged 83 percent over the past four months, figures from Roseland, New Jersey-based ADP Research Institute showed. While smaller firms typically provide two thirds of new jobs, hiring by such companies has been erratic and sluggish since the recession ended in June 2009, and accounted for as little as 38 percent of private-sector jobs added in September 2010. more

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