Small Businesses Reducing Workers For The Last Five Months
ADP data shows small businesses with 1-49 workers have been reducing workers for five months.
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The ADP Employment Report shows the economy added 143,000 private jobs in September.
Importantly, a breakdown of jobs by firm size shows small businesses have now shed jobs for five months. And for the first time this year, employers with 1-19 employees shed workers.
ADP Change in Employment by Employer Size Year-Over-Year
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ADP Total Change in Employment Year-Over-Year
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Total employment year-over-year is sinking fast, led by small businesses.
Total Employment by Business Size
- 1-19: 34.7 million
- 20-49: 22.9.9 million
- 50-249: 38.8 million
- 250-499: 12.3 million
- 500+: 23.9 million
- Total: 132.6million
Small businesses (49 and less) are far more important than large businesses.
The BLS monthly jobs report is Friday. The Bloomberg Econoday consensus is 132,500 in a range of 70,000 to 180,000.
The Econoday unemployment rate consensus is 4.2 percent (unchanged) in a range of 4.2 percent to 4.3 percent.
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