Small businesses added 58,000 jobs in May, report says
Small businesses added 58,000 employees in May with overall private-sector employment increasing by 135,000, according to the ADP National Employment Report.
The number of jobs added is up from 49,000 in April, but down from 72,000 in March. Last May the number of jobs added was about 50,000, ADP said.
Establishments with one to 19 employees grew by 37,000 and those with 20 to 49 employees grew by 21,000. Most were in the service sector, according to the report.
In Los Angeles, small-business owners were optimistic about the future, according to a report from Bank of America released last week.
It found that 47% of Los Angeles small-business owners are planning to hire more employees, about 16 above the national response, according to the bank’s Small Business Owner Report.
Forty-five percent expect their staffing needs will remain consistent.
“Small businesses in Los Angeles were more optimistic than they were in the fall of 2012,†said Emily Shanks, regional executive for Los Angeles. “We’re finding that the economy is starting to turn around and small businesses are feeling it.â€
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