Home Business Big Drop in Small Business Jobs, ADP Reports

Big Drop in Small Business Jobs, ADP Reports

by admin
0 views
Big Drop in Small Business Jobs, ADP Reports

Small businesses lost 120,000 jobs from March to April, according to the ADP National Employment Report issued May 4, 2022. That’s despite the nation seeing an overall gain in jobs of 247,000 (medium and large-sized businesses) during the same time period. Franchise jobs also saw an increase, gaining 47,400 jobs.

Why are small businesses losing jobs?

ADP Chief Economist Neela Richardson said small businesses are struggling to find workers.“Labor supply shortages caused job gains to soften for both goods providers and service providers,” she said. “As the labor market tightens, small companies with fewer than 50 employees struggle with competition for wages and increased costs.”

Small businesses with 1-19 employees lost 96,000 jobs, with the majority of those losses (about 83,000) in the service providing sector. The goods producing sector lost 12,000 jobs.

Small businesses with 20 to 49 employees lost 25,000 jobs. The service providing sector lost 20,000 jobs and the good producing sector lost 4,000 jobs.

Franchise Businesses Add 47,400 Jobs

During the same time period, franchises gained 47,400 jobs.The majority of those gains were in restaurant chains, at 32,100. The auto parts/dealers industry saw a 6,800 jobs gain, and accommodations gained 3,400 jobs. What’s happening? In the service-providing sector, are workers heading to franchises such as restaurants, lodging establishments and auto-service centers in search of better standard wages? There’s no data available to answer that question.

Other franchise gains were in business services (1,700) and real estate (300). Food retailers remained even, with no job gains or losses.

For the latest, follow us on Google News.

Image: ADP

Source : SmallBizTrends

Related Articles

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

NEWS7.ASIA :Big Drop in Small Business Jobs, ADP Reports
https://france-restos.fr   https://www.4u7.org/   https://www.moncafe.biz   https://lamaisondurasage.fr   https://www.humanrightsiniran.org  
--
Chaise Design Retro Kingston Tissu – Chaise de Salle de Conférence avec Accoudoirs – Siège et Dossier Rembourrés… *  How break dancing made the leap from '80s pop culture to the Olympic stage *  Newcastle Falcons sign Ospreys fly-half Josh Thomas on two-year contract *  FDA Approves First COVID-Flu-RSV Home Test – WebMD *  Je suis toute à vous (Comté de Bridgewater t. 2) *  * JER Recharges de pour Homme Petite Toile Militaire Messenger à bandoulière Voyage randonnée Sac à Dos Noir *  Oncology Round-Up: Depressive Symptoms in Breast Cancer Patients; and More – DocWire News *  https://boutique-maillot-bain.com   https://www.minipc.biz/   https://www.fournitures-de-bureau.biz/   https://france-restos.fr   https://maillot-de-bain-pour-femme-musulmane.com   https://meilleureschaussures.com   https://www.newshealth.biz   https://www.anatc-tnb.fr   Big Drop in Small Business Jobs, ADP Reports : news7

news7.asia Big Drop in Small Business Jobs, ADP Reports