The small business sector has been one of the lagging segments in the labor market, which seemingly held back private sector hiring. But now there is information that suggests the labor market is heading in the right direction.
The ADP employment report showed large job gains in businesses with less than 50 employees, adding 117,000 jobs, which is the largest gain since February 2006. Businesses with 50-500 employees added 144,000 jobs, which is the largest increase on record. These gains were mostly in the private sector, which continues to suggest a sustainable recovery.
Source, Wells Fargo Securities , LLC Economics Group