Small Businesses Getting Crushed, ADP Jobs Report Shows
Businesses with fewer than 50 employees saw their payrolls drop by 91,000 in May, ADP said Thursday.

Businesses with fewer than 50 employees saw their payrolls drop by 91,000 in May, ADP said Thursday.
The January estimate went from a loss of more than 300,000 to a gain of more than 500,000.
Matching the second worst month ever recorded in small business ADP payroll data.
January looks like it was a disaster for jobs.
ADP has not had a great track record through the pandemic.
The decline in cases in Florida and other southern states may be fueling growth in payrolls in restaurants, bars, hotels, and resorts.
Private payrolls increased by 374,000 in August, missing expectations for 600,000, according to ADP data released Wednesday.
The latest report from ADP suggests that economic growth has slowed by more than expected.
U.S. businesses accelerated the pace of hiring in May, according to data released Thursday by payroll processing firm ADP.
U.S. businesses added 517,000 workers in March as states like Texas and Florida lifted pandemic restrictions, data from payroll provider ADP indicated Wednesday.
Better than expected.
Big businesses shrank payrolls the most in December, according to a report from ADP.
Private payroll growth came in much weaker than expected for November.
Construction, manufacturing, transportation, and hospitality led the gains.
The ADP number has been wildly offbase in recent months but it tends to get the direction of employment growth right.
A total of 5.37 million jobs added in May and June
The AP private payrolls report suggests the labor market may be healthier than it has looked.
The hardest-hit sector was leisure and hospitality, which shrank by 8.6 million jobs in April.
The private sector added just 67,000 jobs in November, the fewest since May and well below expectations, ADP said.
Private sector payrolls added just 27,000 new jobs in May, according to a report Wednesday from Moody’s Analytics and ADP.
Maybe the labor market did not suffer as much as expected during the government shutdown.
“Tariffs have yet to materially impact jobs,” the chief economist of Moody’s Analytics said.
Over the past year, America’s private sector has added an average of 190,000 new jobs. That blistering pace of hiring is nearly double the rate of growth of the workforce, pushing unemployment down and then down some more.
Payroll processing company Automatic Data Processing (ADP) reports that jobs grew by 241,000 in March.